On March 20, 2024, the New York State Department of State Licensing Services enacted the seller Property Condition Disclosure Statement (PCDS). The 56-question form is designed to have seller’s answer questions about the home they are selling. With the enactment of this law, sellers can no longer provide a $500 credit to the buyer. 17 of the questions are environmental in nature.
MECC has created a report to address the environmental questions on the form drawing on our experience in the industry along with utilizing a third-party vendor to provide information regarding a property and the area in which is it located.
The $695 price being offered by MECC will provide the seller with some comfort that the answers they are providing are accurate. MECC will send a representative to the home to identify if any of the conditions stated on the form exist. After the inspection, MECC will provide a report to the seller to review and provide to the buyer for informational purposes.