Latest Update: “PCDS” (NY)
The Property Condition Disclosure Act (PCDA), updated in July 2025, requires sellers to share vital details about their home’s condition. Let’s explore the latest updates and what they mean for buyers and sellers across New York.
WHAT IS THE PCDS?
The PCDS is a form that sellers of 1- to 4-family homes must provide buyers before a contract is signed. It covers issues like structural defects, environmental hazards, and now, expanded flood and septic system details, based on the seller’s knowledge. It’s not a warranty, and buyers should still get inspections.
2025 UPDATES
Signed into law on September 27, 2024, the July 2025 PCDA amendment adds a septic system disclosure to the 56-question form, now 57 questions. Sellers must note if septic operation details are available. The 2024 changes eliminated the $500 credit opt-out and added flood questions, like floodplain status.
THE END OF THE $500 WORKAROUND
Before 2024, sellers could skip the PCDS by offering a $500 credit to buyers at closing, avoiding disclosures. The 2024 amendment eliminated this workaround, requiring all non-exempt sellers to provide the PCDS. This ensures greater transparency but increases seller responsibility.
If a seller fails to provide the PCDS, they face liability for actual damages from undisclosed issues. Buyers can seek legal remedies, but the sale remains valid. Contact our attorneys to explore your options.
FOR BUYERS & SELLERS
Sellers must provide accurate PCDS answers to avoid disputes. Incomplete or false disclosures could lead to costly legal challenges. Buyers gain transparency about a property’s condition, like flood risks or septic needs. However, they must verify conditions with professional inspections to ensure no surprises.
The updated PCDS impacts home sales, but our team at Marano Law is here to help. Our team guides buyers and sellers across New York through these rules. Contact us for personalized advice today.
Disclaimer: This post is for informational purposes only and is not legal or tax advice. Consult our qualified attorneys for your specific needs.
