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Amended PCDS eliminating $500 credit goes into effect March 20, 2024

From: New York State Association of REALTORS (NYSAR) Sent: Saturday, March 9, 2024 Subject: Read this week's NYSAR E-News!

The amended Property Condition Disclosure Statement (PCDS) goes into effect Wednesday, March 20, 2024. The amended PCDS includes language requiring the disclosure of issues related to flooding and removal of the $500 credit if sellers fail or refuse to provide the PCDS. Sellers will no longer have the option of providing the $500 credit in lieu of the PCDS. The Department of State has published the amended form. NYSAR is recommending that licensees provide a copy of the PCDS to the seller and inform the seller to discuss filling out the PCDS with their attorney. Licensees should not be assisting the seller in filling out the PCDS. Learn more.


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