New York Home Seller Disclosure Requirements (2026)
New York's seller disclosure law is unique: sellers can either complete the New York State Department of State's Property Condition Disclosure Statement (PCDS) or pay buyers a $500 credit in lieu of the disclosure. In practice, both approaches are used — but FSBO sellers should understand what each means.
New York's Property Condition Disclosure Act
New York's Property Condition Disclosure Act (Real Property Law Article 14, §460-467) requires residential sellers to:
The PCDS is a multi-page form that asks about known defects and conditions in detail, including structural, roof, plumbing, electrical, HVAC, environmental hazards, flooding, HOA, and more.
Which approach should FSBO sellers choose?
If your home is in excellent condition with no known material issues, completing the PCDS provides buyers with documented information and can build confidence. If your home has known issues, be aware that disclosing them on the PCDS doesn't necessarily reduce your legal exposure — you still have common law duties to disclose material defects. The $500 credit is not a license to conceal material defects.
New York courts have consistently held that common law fraud and concealment claims survive even when a seller takes the $500 credit. The credit only waives the statutory disclosure obligation; it doesn't waive the common law duty to not actively conceal material defects.
Flooding Disclosure
New York does not have a standalone flood disclosure statute like Florida's HB 1097, but the PCDS specifically asks about:
For NYC and Long Island sellers, post-Sandy (2012) flooding history is highly material information. Buyers' attorneys will ask about it and review CLUE reports. Disclosing proactively on the PCDS or in writing protects you.
New York City-Specific Issues
NYC Transfer Taxes: The New York City Real Property Transfer Tax (RPTT) applies to sales within the five boroughs. The rate depends on sale price and property type. For residential properties over $500,000, the rate is 1.425% (seller pays). The State of New York also imposes a transfer tax of 0.4%. For properties over $3 million, the "mansion tax" (buyer pays, 1%–3.9% depending on price) applies.
Co-ops and Condos: Much of NYC's residential market is co-ops and condos, not standard single-family or condo fee-simple transactions. Co-op sales require board approval — the co-op board reviews the buyer's financial package and can reject buyers. This is a significant difference from standard FSBO transactions. Condo buildings may have rights of first refusal.
NYC RPIE and DOF Requirements: Sellers in NYC should ensure there are no outstanding DOF charges, water bills, or HPD violations that will need to be resolved at closing.
New York State Transfer Tax
In addition to NYC transfer taxes, New York State imposes a real estate transfer tax of $4 per $1,000 of consideration, plus the "mansion tax" on purchases over $1,000,000. These are typically seller and buyer obligations respectively.
Lead Paint — Pre-1960 NYC Housing Stock
New York City has a very high percentage of pre-1960 housing stock, particularly in Brooklyn, Queens, the Bronx, and Manhattan. Federal law requires the lead paint disclosure for pre-1978 homes. NYC also has Local Law 1 (lead paint) requirements for rental properties with children under 6 — relevant if your property is multi-family.
Attorney Requirement in New York
New York is an attorney-state for real estate. Both buyer and seller typically have attorneys, and the transaction is primarily negotiated between attorneys. As a FSBO seller, you still need a New York-licensed real estate attorney. Attorney fees for NYC closings typically run $1,500–$4,000 depending on complexity.
REBNY vs. Upstate NY
In New York City (particularly Manhattan and Brooklyn), the Real Estate Board of New York (REBNY) operates the RLS (Residential Listing Service) instead of a standard MLS. FSBO listing on REBNY RLS is complex — most flat fee services cannot directly list there. For NYC FSBO, many sellers use Streeteasy as a primary channel.
Upstate New York and Long Island sellers use standard MLS systems and can use flat fee MLS services normally.