Finding the square footage on an appraisal report might seem straightforward, but its exact location can vary slightly depending on the appraiser and the software used. However, it's almost always prominently displayed because it's a crucial piece of information affecting property value. This guide will help you locate it, along with clarifying related terms and potential variations.
Where to Look First: The Summary or Property Details Section
Most appraisal reports begin with a summary section or a dedicated property details section. This is usually your best starting point. Look for lines detailing:
- Total Living Area (TLA): This is the most common term for the total square footage of the heated, habitable living space within the home. It's often presented as a clear numerical value (e.g., 1,850 sq ft).
- Gross Living Area (GLA): This is another frequently used term that essentially means the same as TLA. Some appraisers might prefer one over the other.
- Above Grade Living Area: This specifically refers to the square footage above ground level. Basements or finished lower levels might be included separately.
Tip: Scan the first page or two for bold-faced headings like "Property Characteristics," "Subject Property Description," or similar labels. The square footage is usually prominently featured within these sections.
If You Can't Find It in the Initial Sections
If the summary or property description section doesn't readily display the square footage, don't worry. Expand your search to these areas:
- Floor Plans: Many appraisals include floor plans as visual aids. The total square footage is often noted directly on the floor plan itself.
- Detailed Descriptions: Look for sections that describe each room, providing dimensions. While not directly stating the total, you could potentially calculate it by adding the individual room areas. However, this method is prone to error and shouldn’t replace finding the explicitly stated value.
- Appendices or Addenda: Check any supplementary sections of the report for detailed measurements.
Understanding Related Terms
You might encounter other related terms besides GLA/TLA:
- Gross Building Area (GBA): This includes all areas of the building, even those not considered habitable living space, such as garages or unfinished basements. This will be a larger number than the TLA/GLA.
- Lot Size: This refers to the total area of the land the property sits on, usually expressed in acres or square feet, and should not be confused with living area.
What if the Square Footage is Missing?
If, after a thorough search, you cannot locate the square footage, contact the appraiser directly. They are the best source for clarifying any discrepancies or providing the missing information.
H2: Why is the Square Footage Important on an Appraisal?
The square footage is a critical factor in determining a property's value. Larger homes, generally, command higher prices, but other factors, like location, condition, and amenities also play significant roles. The appraiser uses the square footage, along with other data, to apply comparable sales analysis and arrive at an accurate market value.
H2: Are there different ways of measuring square footage?
Yes, there can be some variations in how square footage is measured. Different appraisers may use slightly different methods, leading to minor discrepancies. For example, whether or not to include certain areas like finished basements might vary. This is why comparing the method used is as critical as the final number.
H2: Can I dispute the square footage stated on the appraisal?
If you strongly believe the stated square footage is incorrect, you should present evidence to support your claim. This might include architectural plans, previous appraisals, or even a professional measurement by a qualified surveyor. It's always best to approach this discussion with the appraiser directly first.
By following these tips, you should be able to successfully locate the square footage on your appraisal report. Remember, if you have any doubts, always contact the appraiser for clarification. They are the experts on the specific appraisal conducted for your property.
