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New York Residential Purchase Agreement

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Updated June 27, 2025

A New York residential purchase agreement outlines the terms of a transaction between the buyer and the seller of a residential property. The buyer will use the agreement to make an offer, listing the purchase price, expiration date, and more. The seller must make legally required disclosures before closing the sale.

State Laws

Seller Duties – The seller is legally required to provide potential buyers with a completed property condition disclosure statement.[1]

However, the seller is exempt when the transfer of property is:[2]

  • Ordered by the court;
  • Made to the lender to prevent a foreclosure;
  • Made to and from the state or any other governmental entity’;
  • Made to another co-owner of the property, a spouse, or a relative;
  • Made as part of a divorce settlement;
  • Distributed as part of a decedent’s estate, a guardianship, a conservatorship, or a trust; or
  • For a newly constructed property that had not been inhabited.

Agent Duties – Agents representing both the buyer and the seller must timely inform each party of their rights and obligations.[3]

Seller’s Disclosures (3)

Property Condition Disclosure Statement (required) – On the form, the seller must describe the property’s environmental, structural, and mechanical systems and their conditions.

Download: PDF

Lead-Based Paint Disclosure (conditional) – If the residence was built prior to 1978 the seller must give potential buyers a disclosure statement that describes the presence of lead-based paint on the property.[4]

Download: PDF

Lead-Based Paint Pamphlet (conditional) – Gives general information about lead-based paint for properties built before 1978.[5]

Download: PDF

Sample

Download: PDF, MS Word, ODT

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