Buying a flat - Incorrect floor space advertised

robatwork

a) Pull out and absorb the loss yourself and note to measure everything next time.

b) Accept and exchange, move in, be happy

Them's the choices.

redcard

robatwork wrote: »

a) Pull out and absorb the loss yourself and note to measure everything next time.

b) Accept and exchange, move in, be happy

Them's the choices.

c) Renegotiate

Thrugelmir

flatLondon wrote: »

I understand that floor space is not the only factor that determines price, but all things equal, larger floor space should command higher prices. No?

No.

Price is determined by

Location, Location , Location........

davidmcn

Thrugelmir wrote: »

No.

Price is determined by

Location, Location , Location........

All other things being equal though - 10% more floor area in same area ought to be a higher valuation - surveyors do tend to work on the basis of area.

Thrugelmir

davidmcn wrote: »

All other things being equal though - 10% more floor area in same area ought to be a higher valuation - surveyors do tend to work on the basis of area.

I've never bought a property on floor area. Not the way the UK market works. A continental concept. Larger floor area doesn't in itself mean there's more usable space either.

flatLondon

Thrugelmir wrote: »

I've never bought a property on floor area. Not the way the UK market works. A continental concept. Larger floor area doesn't in itself mean there's more usable space either.

Then why do EA's advertise the floor space in every posting?

Anatidaephobia

I can understand your frustration that you feel the EA has misrepresented the flat but, to be honest, if your offer was so heavily influenced by the specific amount of floor space to the extent that 10% could be an issue then (considering the EA have disclaimers about approx measurements) I think you made a mistake by not checking the measurements yourself. I am not defending the EA, however, if the sizes were so important to you that that's defined your offer then surely it would've been better to double check them rather than make an offer based on approximate measurements.

davidmcn

Thrugelmir wrote: »

I've never bought a property on floor area. Not the way the UK market works.

I agree people in the UK don't consciously go looking for "a 90m2 flat" in the same way they might in other countries, but the floor area is relevant to values - surveyors don't measure the size of properties just because they're bored!

Annie1960

flatLondon

http://webarchive.nationalarchives.gov.uk/20140402142426/http://www.oft.gov.uk/shared_oft/estate-agents/OFT1364.pdf


Here is another link about EAs responsibilities from the OFT. The issue of the size of rooms is mentioned in a number of places in the document.

You say there was another flat at 10% less floor space. Was this the same price?

What is the price of the flat you offered on?
What floor space was advertised for this?
What do you mean by the 'official' floor plan?

What was the price of the other flat?
What floor space was advertised for this?


You are a FTB, and as the link shows you therefore are part of a vulnerable group, and the EA should take this into account.

You say you 'confronted' the EA. What do you mean by this? You really need to put your complaint in writing as a first step. Ask them what measuring instrument they used to measure the flat, and ask to see the record showing how frequently this is calibrated.

benjus

Personally, I think that floor area is a very useful concept, and the lack of emphasis on floor area in residential property sales/lettings is one of the various stupidities of the UK market. Possibly the only useful thing to come from EPCs is that it's becoming more common to include the floor area on the listing (although not universal - listings without the full EPC, only the ratings section, are still common).

I rejected a lot of properties based on floor area alone - I don't really see the point in looking at a 60 sq m flat when I've decided that 80 sq m is the minimum I'd go for.

Unfortunately due to the unreliability of the measurements - the flat I eventually bought was listed as 132 sq m on the EPC, 115 sq m on the survey, and my personal estimate from the (low quality) building plans I have is 100 sq m - you can't practically use floor area as a reason to accept a property, only as a filter to reject properties.