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Seller's Information for Appraiser provided to Buyer - New York

Seller's Information for Appraiser provided to Buyer - New York 2025

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The document is an information form for appraisers, designed to collect essential details about the owner and property for appraisal purposes. It includes sections for owner information, property details, known liens, and the purpose of the appraisal, indicating whether it is for selling or refinancing.

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What are the disclosure requirements in NY?

Details on specific disclosures required They must disclose known defects in the property, including issues with the foundation, roof, water and sewage systems and pests. Additionally, they must inform the buyer of any environmental hazards on or near the property, such as proximity to a floodplain or radon gas.

Is a seller disclosure required in NY?

The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy of thereof to be delivered to a buyer or buyers agent prior to the signing by the buyer of a binding contract of sale.

What are the disclosure requirements?

What are the New York Disclosure Laws requirements and how do they impact your insurance program? The New York law requires that an insured defendant disclose information about any insurance policies sold or delivered in New York that could be applicable to a plaintiffs claim.

What are the requirements for disclosure in NY?

The heart of the disclosure requirements in New York revolves around the physical condition of the property and any known defects. Sellers must disclose information regarding the structural integrity of the building, including the condition of the foundation, roof, walls and floors.

What does an appraiser report provide to the lender?

A lender uses an appraisal not only to assess the value of the property, but also to determine such things as your interest rate, required down payment, and whether you will be approved for the loan.

Should I give the seller a copy of the appraisal report?

The appraisal is the banks but they provide you a copy by law but its essentiallya courtesy copy. You do not have to share or disclose anything about it. Do not tip your hand to the sellers or their agent; only tell them if you think it will help your situation.

What are the requirements for a disclosure statement?

An effective disclosure statement should do the following: Identify all relevant parties involved. Determine and state the purpose of the disclosure. Outline and provide the information that needs to be included in the disclosure.

Seller's Information for Appraiser provided to Buyer - New York 2025

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