Buying or Selling a Home/selling a home in NYS

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Expert: - 12/23/2007


Question
Is there a law that states you must point out the negative points of your home in NYS when you are selling it?

Answer
Hello Eileen,

Thank you for your question.

New York is still a buyer beware state, but if you are selling your home there is a state form to fill out to give the buyer information about your home.  Lawyers do not want you to fill out the form.  If you do not give the buyer the form they get a $500 credit at closing.

The form asks basis questions about the house.

You do not need to tell the buyer anything. They can do an inspection and proceed from there.  But if you want to make a deal the exchange of information is a good idea because if you won't answer the buyer's questions they won't trust you and will go away.

Hope this helps you Eileen.

Hans

Buying or Selling a Home

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Volunteer

Hans Weber, Licensed Broker Associate

Expertise

I am able to answer questions related to buying or selling residential real estate in New York. There are many questions buyers and sellers have about the process of buying or selling a home that they are afraid to ask or that might seem too simple to ask. For instance: in a house, why do some doors open in and some doors open out?

Experience

Licensed real estate agent in New York State in 1988.
Serving buyers and sellers as a full time occupation since 1988 with over 300 successful residential real estate transactions.

Organizations
National Association of Realtors.
Westchester County Board of Realtors.

Education/Credentials
Graduate of Pace University in 1988 majoring in business and minors in taxation and computer science.

Awards and Honors
Consistently one of top sales awarding winning agents for Coldwell Banker in Westchester County.

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