New York Property Condition Disclosure Act
New York's PCDA requires sellers to deliver a Property Condition Disclosure Statement to prospective buyers. The form covers 48 questions about the property's physical condition, systems, and environmental hazards.
The $500 credit alternative
If you choose not to complete the disclosure form, you must give the buyer a $500 credit at closing. Legally, this satisfies the PCDA — but it doesn't protect you from post-closing fraud claims if you knew of material defects and concealed them. Completing the form is the safer choice.
What the form covers
Albany-Specific Notes
Many Albany properties were built in the early 1900s. Lead paint (pre-1978) and asbestos disclosures are particularly important. If your home has knob-and-tube wiring, disclose it — buyers' inspectors will find it anyway.
Attorney Requirement
New York requires a licensed attorney at closing. Your attorney handles the deed, title, and transfer documents. Hire one early to review offers and guide negotiation.
Download the NY PCDA form at byownerhub.com/albany#disclosures.