Misrepresentation of square footage

[sandia58]

What is the name of your state?I reside in New Mexico and recently entered into a contract to purchase a second home to rehab and resell. The listing broker represented the house as 1943 square feet. After I paid for inspections, the appraiser stated the square footage to be 1472, a 24% difference. The selling agent is refusing my request to return the $315 I spent on inspection fees, claiming the contract states that I am not to rely on any representation that the seller or Broker makes and that neither the seller nor Broker guarantees accuracy.
It is my contention that this goes beyond misrepresentation and can be construed as negligent misrepresentation. There were other errors on the listing, such as the type of windows (stated they were insulated but were single pane), and the type of appliances. While I understand these smaller errors can be made, I based my purchase on the per square foot cost for buying and selling and it is no longer a profitable venture.
Do I have a chance of winning in arbitration?
Thank you.

This seems like a rather large difference (i.e., 24 %). Go for arbitration!