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 S C Residential Property Condition Disclosure Statement 2013

2013-2025 Form

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Instructions and help about S C Residential Property Condition Disclosure Statement

hi I'm Attorney Peter Goodman I'm a partner at Burger ficial Schumer Wester and Goodman where I had the real estate department we have officers across Long Island and New York City they we're going to talk about the property condition disclosure statement it is part of the real property law it's an amendment to an existing law that was intended to provide transparency in real estate transactions traditionally buyers bought under the um caveat and tour principle meaning let the buyer bewar they were buying as his properties but the law intended to create more transparency by having sellers fill out a form that was called a property condition disclosure statement which uh disclosed certain things that the seller knew about the condition of the property the problem was it had a $500 opt out which said that the sellers could just pay $500 to the buyer on closing and then the buyer had to take the property as is and did not get a chance to review or receive t

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