A New York real estate agent represents a buyer interested in a property near the Gowanus Canal in Brooklyn, which is designated as a federal Superfund site. The target property is not within the Superfund site boundaries but is located 200 feet away. What should the agent advise the buyer?
Correct Answer
D) Consider environmental testing and research potential impacts from the nearby Superfund site
Proximity to Superfund sites can affect property values, future development potential, and environmental conditions. The buyer should conduct environmental due diligence including potential soil and groundwater testing, and research how the Superfund cleanup might affect the area and property values over time.
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A New York property owner participating in the state's Voluntary Cleanup Program completes remediation and receives a Certificate of Completion from DEC. Five years later, they want to sell the property. What protection does this certificate provide to potential buyers?
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Under New York environmental disclosure requirements, real estate agents must disclose all of the following environmental conditions EXCEPT: