Finding the square footage on an appraisal report might seem straightforward, but its exact location can vary 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 locate it quickly and efficiently.
Common Locations for Square Footage on an Appraisal Report
The square footage is usually found within the property description section of the appraisal report. Look for these key areas:
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Page 1 or 2: The most common place is on the first or second page, often within a summary or introductory section that provides key details about the property. This section might be titled "Property Characteristics," "Subject Property Description," or something similar.
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Improvements Section: Within the detailed description of the property's improvements, you'll find a breakdown of its features, including the living area's square footage. This might be listed as "Total Living Area," "Gross Living Area (GLA)," or simply "Square Footage." The abbreviation GLA is frequently used and usually refers to the heated, habitable area of the house.
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Data Tables or Charts: Some reports present property information in tabular format. Look for columns labeled "Square Footage," "GLA," or similar.
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Addenda or Appendices: If the main body of the report doesn't directly state the square footage, check any accompanying documents or appendices. Sometimes supplemental information, like floor plans, may be included.
What if I Can't Find the Square Footage?
If you've thoroughly searched the report and still can't locate the square footage, here's what you should do:
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Review the Entire Report: Carefully reread the entire report. Sometimes the information might be presented indirectly or within a longer paragraph describing the property's dimensions.
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Contact the Appraiser: The most reliable approach is to contact the appraiser directly. They can quickly guide you to the correct information or provide clarification.
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Check the Appraisal Order: If you initiated the appraisal process, review the appraisal order form. It might contain the square footage used as the basis for the appraisal.
What Does "GLA" Mean and Why is it Important?
Gross Living Area (GLA) is a standardized measurement of the interior living space. It typically excludes areas like garages, basements (unless finished and heated), porches, and patios. Understanding GLA is crucial because:
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Valuation: It directly impacts the property's assessed value. Larger GLA generally translates to a higher value, all other factors being equal.
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Comparables: Appraisers use GLA to compare the subject property to similar properties sold recently in the area.
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Property Taxes: Local tax authorities often use GLA to calculate property taxes.
What other measurements might be included in the report?
Beyond the GLA, the appraisal report might also include:
- Total square footage: This includes GLA and other areas like garages, basements, and unfinished spaces.
- Lot size: The total size of the land the property sits on.
- Building area: The total area of the building, including GLA and other spaces.
By understanding these common locations and strategies, you can confidently find the square footage information within your appraisal report. Remember, contacting the appraiser directly is always a viable option if you encounter difficulties.
