Understanding NYS Property Condition Disclosure Statement

Описание: HI CBM Crew,


I wanted to make this video about the NYS Property Condition Disclosure Statement because I believe its good information to be aware of as a buyer or a seller - but also because I believe the disclosure doesn't mean much.

The disclosure doesn't require the seller to make any further investigation into the condition of their property when filling out the disclosure, and the same disclosure still recommends to the buyer to order their own inspection and do due diligence.

So really why is the disclosure statement being required? Obviously I understand that it means it will now require sellers to disclose any known defects of their property... but what happens if the seller has no memory of known defects because they don't recall having done any work on their house for years?

I know I'm approaching it slightly cynically, even though I overall feel the disclosure is helpful in a lot of cases - it just doesn't make much sense why there's an extra layer of paperwork that needs to be completed if the buyer is going to be recommended to do an inspection anyways...

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