A buyer's attorney in New York is reviewing a purchase contract and notices that the seller has not provided the Property Condition Disclosure Statement. The seller's attorney states that the seller will pay the $500 credit to the buyer instead of providing disclosure. What should the buyer's attorney advise?
Correct Answer
C) Advise the buyer that they can accept the $500 credit but should consider additional inspections since no disclosure will be provided
Under New York's Property Condition Disclosure Act, sellers can choose to pay a $500 credit instead of providing disclosure. The buyer's attorney should explain this option but advise that without disclosure, the buyer should consider more thorough inspections to identify potential issues.
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