Calculating living space during lockdown
It may be hard to believe, but 90 percent of the floor space specifications for existing properties are incorrect. Random samples show this time and time again. This is because floor space specifications from building applications or old rental agreements are often used, which were often determined without a calculation regulation.
Private sellers are liable for incorrect or incomplete information. If the living space information does not match the actual living space, sellers may face claims for damages. This may include a reduction in the sale price, financing and notary fees, as well as taxes that the buyer has paid on the higher purchase price. Even the warranty excluded in the sale of real estate does not protect against claims for damages if the area was accepted as the subject matter of the contract.
There are a few things to keep in mind when calculating living space: Different calculation standards apply to door and window frames, stairs, stoves, built-in furniture, sloping ceilings, room heights, chimneys, pillars, columns, facing walls, and niches. For basement rooms, garages, terraces and balconies, heated or unheated conservatories and swimming pools, laundry rooms and boiler rooms, deductions of between 0 and 100% of the floor space must also be made.
If you are unsure about how to calculate the living space, it is best to consult a professional. Professional real estate agents know exactly how to calculate the living space. They also bear the risk for the correct space specifications themselves and do not pass this on to the customer. This also protects real estate sellers from high claims for damages.
Do you have questions about calculating your living space? Contact us! We will be happy to advise you.
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