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New Property Condition Disclosure Statement
Important update for future home sellers!
As of March 20, 2024, any seller of residential real property in New York will no longer be able to provide their buyer with a $500 credit in lieu of the Property Condition Disclosure Statement. This Statement requires sellers to disclose specific information about any past flooding, prior issues with any systems, and more. (Unless the seller is under one of the exemptions to this rule, such as an estate or a trust.)
If you have any questions about whether your contract will be impacted by this change, don’t hesitate to give us a call: (914) 633-7400.