Buying a home is the biggest investment many people will ever make. Finding the right home is a lengthy process requiring a great deal of time and money. Therefore, it is important to be fully aware of any defects in the property which you are purchasing.
Although New York was historically a “caveat emptor” state (in other words “buyer beware”), legislation has changed over the last decade to provide more protection to consumers. In New York, sellers are not required to disclose certain facts about a house, such as whether it was the site of a crime or murder, or whether it is believed to have supernatural activity. However, a seller is required by law to make certain necessary disclosures regarding the condition of the property.
Continue reading “What is a Person Selling their Home Legally Required to Disclose to a Buyer?”
