Gray Scale Measurement and Appraiser Debate

Gray Scale Measuring Services and The Great Appraiser Debate

Gray Scale measuring services and the great appraiser debate is a topic of great importance.  At Gray Scale Services, we understand the guidelines set by the North Carolina Real Estate Commission. This year alone, we have been able to assist and resolve five appraisal discrepancies, each with an incorrect measurement that could have resulted in a monetary loss for the agent and client.

Our professional service using modern technology allows us to provide accurate measuring for our clients and their listings. Our architectural background and educational studies give us the knowledge to analyze a property accurately and measure accordingly.

Gray Scale Services

Gray Scale Measuring Services

Case 1. The Sketch

Growing up we all played with Etch a Sketch, but we would never rely on this device for accuracy. With today’s accessible technology, why would we hand-sketch floor plan measurements? This old school method leaves more room for human error and headaches. Poor handwriting and inaccurate numbers can lead to a deal being lost and the real estate commission being alerted. After we measured a property, the agent provided a handwritten appraisal that was under by 106 square feet. We double-checked our work and pointed out where the discrepancies were to the agent. Although this was within the 5% margin for error, the property would not have appraised for what it was listed for. Fortunately, the agent was able to dispute the appraisal and the second appraiser’s measurements came in with the correct measurements. The deal was saved!

Case 2. The Overage

We were contacted to provide measurements for a property where we immediately noticed a difference in the numbers. The previous appraisal came in at 1509 square feet and the homeowner thought that they had more square footage than what was there. We, however, calculated 1309 square feet. Using the dimensions that were provided on the appraisal, and doing the calculations, we could not justify the additional 200 square feet in the previous appraisal. Our ability to work through these calculation differences can be attributed to our architectural background and knowing what to look for when preparing floor plans. Misrepresentations like this can result in the Commission pursuing disciplinary action against the listing agent.

Case 3. The Shortage

Measurements and appraisals are a tricky thing. Thankfully we use modern technology and have professional employees who can find the errors and correct them. Gray Scale Services calculated 4543 square feet for a listing, whereas the new appraisal was coming in well short at 4019 square feet. The appraisal, was 524 square feet less! By the way, the appraiser also used graph paper… After comparing our plan to the appraisal, it was obvious that there was an error in the depth of the house. After double-checking the dimensions and reporting our calculations and floor plans, we were able to save at least $50K on this deal for the agent.

Case 4. The Addition

One of our employees noticed a discrepancy when completing a measurement for a client. The property listing was a condo and the previous appraiser included the common hallway in the square footage. This could have resulted in a misrepresentation of the square footage. Again, our goal at Gray Scale Measurement Services is to provide accurate calculations, saving the property owner, agent and buyer time and money.

Case 5. The Third Opinion

On this particular listing, the appraisal was correct but the measurements were wrong. We were hired by the buyer’s agent as a third opinion because the buyers wanted to make sure that they were getting the square footage that was originally listed. Unfortunately, this was a condo and the previous measurement included the exterior walls. The buyers were understandably upset because this added square footage that should not have been included. To make matters worse, the listing agent had used measurements from a previous listing, which was an even bigger no no. The buyers walked away from the deal because they felt that the price per square foot was too high.

Order your Measurements Today!

If you need your listing measured or have any question on a home that you are representing the buyer for – give us a call or schedule an appointment for a measurement today. We would be happy to help provide an accurate floor plan to you for your peace of mind! Order Now!

Gray Scale Services

Gray Scale Measuring Services Floor Plan

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By Alexis Gray | Posted in Updates | Comments Off on Gray Scale Measurement and Appraiser Debate