Locating the square footage on an appraisal report might seem straightforward, but the exact location can vary slightly depending on the appraiser and the specific software used. However, it's almost always prominently displayed because it's a crucial factor in determining property value. This guide will help you find it quickly and efficiently.
Where to Look for Square Footage on Your Appraisal Report
The most common places to find the square footage are:
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Property Description Section: This section typically includes a detailed description of the property, often including the living area square footage. Look for phrases like "living area," "gross living area (GLA)," or simply "square footage." This is usually near the beginning of the report.
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Improvements Section: This section details the characteristics of the building itself. Square footage is often listed here, along with other important measurements like the number of bedrooms and bathrooms.
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Data Tables or Summary: Some appraisal reports will include a concise summary table at the beginning or end. This table often contains key data points, including square footage.
What if I Can't Find the Square Footage?
If you're having trouble locating the square footage, try these steps:
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Review the Entire Report Thoroughly: Carefully examine every section of the report. The information might be presented in a slightly different format than expected.
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Check for Abbreviations: Appraisers may use abbreviations such as GLA (Gross Living Area) or SF (Square Feet). Being aware of these common abbreviations will help your search.
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Look at Diagrams and Floor Plans: Many appraisal reports include diagrams or floor plans. While not always explicitly stating the square footage, these visuals can provide clues and help you estimate the area.
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Contact the Appraiser: If you've exhausted all other options, contacting the appraiser directly is the best way to clarify any confusion. They can easily pinpoint the square footage within their report.
Frequently Asked Questions about Appraisal Square Footage
What is the difference between Gross Living Area (GLA) and Total Square Footage?
Gross Living Area (GLA) refers to the finished, above-grade living space within a house. This typically excludes garages, basements (unless finished), and other unheated or unfinished spaces. Total square footage includes all areas of the building, both heated and unheated. The appraisal report will usually specify which type of square footage is being provided.
Why is square footage important in an appraisal?
Square footage is a significant factor in determining the value of a property. Larger homes generally command higher prices than smaller ones, all else being equal. It's a key element used in comparable market analysis.
Can the square footage be inaccurate?
While appraisers strive for accuracy, minor discrepancies can sometimes occur. Measurements may vary slightly depending on the methodology used. It's important to note that this is a common issue and shouldn't automatically invalidate the entire appraisal.
How is square footage measured for an appraisal?
Appraisers typically use a combination of methods, including physical measurements, reviewing blueprints, and comparing to similar properties in the area. The specific techniques employed can vary.
By following these tips and understanding the common locations for square footage data, you'll be well-equipped to navigate your appraisal report and find the crucial measurement you need. Remember that if all else fails, contacting the appraiser directly is always a viable solution.
