Question

If there is a discrepancy between a residential lot size quoted in a listing contract and the actual lot size, the actual lot size that will prevail in a sales transaction will be found in :

A. the MLS
B. the survey
C. the listing contract
D. the deed

Answer 1

The actual lot size that will prevail in a real estate sales transaction, when there is a discrepancy with the listed size, is the one found in the property survey.

Step-by-step explanation:

The correct answer to the question of which size measurement will prevail in a sales transaction when there is a discrepancy between what is listed and the actual size, is, in fact, found in the survey. The Multiple Listing Service (MLS) provides a platform for real estate listings, but its information can be outdated or incorrect. While the listing contract includes details agreed upon by the seller and listing agent at the time the property is put on the market, it may not reflect the precise, legal dimensions of the property. The deed provides legal descriptions and ownership details but may not always contain up-to-date measurements. However, a property survey provides a current and accurate representation of the property's boundaries and size, prepared by a professional surveyor, reflecting the actual lot size that will prevail in a sales transaction.