Contracts
In New York, the seller of a one-to-four family home who elects NOT to provide the Property Condition Disclosure Statement must:
AReduce the price by $500
BGive the buyer a $500 credit at closing✓ Correct
CPay a $500 fine to the DOS
DProvide disclosure within 10 days of closing
Explanation
Under New York's Property Condition Disclosure Act, if the seller of a one-to-four family dwelling opts not to provide the disclosure statement, they must give the buyer a $500 credit at closing.
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