What New York Sellers Must Disclose

New York requires sellers to put it in writing. The form is the Property Condition Disclosure Statement. Under the Property Condition Disclosure Act (Real Property Law Article 14, section 462), a seller of covered 1-to-4-family residential property must deliver a completed statement based on the seller's actual knowledge before the buyer signs a binding contract.

What the disclosure covers — and what it is

Expect a completed Property Condition Disclosure Statement before contract - since March 20, 2024 there is no $500 credit alternative. Read the new flood questions closely, including FEMA floodplain status, flood insurance, prior flood claims and federal disaster assistance, and check the answers against FEMA maps.

Flooding: the answer that matters most

New York law specifically requires flood disclosure: the seller has to tell you about flood risk or history. Read that answer carefully, then verify it against the official map — FEMA's National Flood Hazard Layer is the map your lender will use, and a seller's 'never flooded' is not the same as 'not in a flood zone.'

The New York traps inside the paperwork

The $500 credit opt-out no longer exists. Before March 20, 2024 a seller could skip the disclosure statement by crediting the buyer $500 at closing; the 2024 amendment removed that option entirely, so a seller who offers $500 instead of the form is relying on repealed law.

Online registry shows only Level 2 and Level 3 offenders. DCJS is required to maintain an online directory only of Level 2 and Level 3 offenders; information on Level 1 offenders is available only through the toll-free number 800-262-3257 with a name and an identifier, so an empty online search is not a complete check.

What no disclosure will ever tell you

A disclosure is the seller's knowledge, on the seller's timeline. It says nothing about the street's crime trend, the registry, the tax bill you will pay after the sale, permits pulled (or never pulled) for the renovation in the photos, or the rezoning working its way through the planning office. In New York, property tax reassessment works like this: A sale by itself does not reset your assessment, so the seller's bill is a useful starting point, subject to the town's reassessment timing and rate changes. Your bill can still differ if the seller's STAR benefit does not carry over - new owners generally receive STAR as a credit and must be registered — which is why the seller's current bill is a poor guide to yours. Pull those records yourself; they are all public.

Your checks, in order

• Read the disclosure line by line, and get 'unknown' answers in writing anyway — an unknown is a flag, not a pass.
• Run the exact parcel on FEMA's flood map.
• Estimate your post-sale tax bill with the New York records guide — never budget from the seller's bill.
• Check the address against the official New York registry.
• Ask the county for open and expired permits on the address before you waive anything.

Frequently asked questions

Is a seller disclosure form required in New York?

Yes — the Property Condition Disclosure Statement. Under the Property Condition Disclosure Act (Real Property Law Article 14, section 462), a seller of covered 1-to-4-family residential property must deliver a completed statement based on the seller's actual knowledge before the buyer signs a binding contract.

Does a New York seller have to disclose flooding?

Yes — New York requires flood disclosure. Verify it on the FEMA map anyway; the disclosure is the seller's statement, the map is the lender's rulebook.

The seller answered 'unknown' to half the form. Now what?

'Unknown' is legal in most regimes and useful to nobody. Treat every unknown as a job: inspection, permit search, and the county record file. If the seller genuinely doesn't know, the records usually do.

Sources: criminaljustice.ny.gov · tax.ny.gov · aronovlawny.com · rbcashoffer.com