S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4883
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 10, 2025
                                ___________
 
 Introduced  by M. of A. CLARK -- read once and referred to the Committee
   on Judiciary
 
 AN ACT to amend the real property law, in relation to  establishing  the
   right to inspection of residential real properties
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The article heading of article 14 of the real property law,
 as added by chapter 456 of the laws of  2001,  is  amended  to  read  as
 follows:
            PROPERTY CONDITION DISCLOSURE AND RIGHT TO INSPECTION
                      IN THE SALE OF RESIDENTIAL REAL
                                 PROPERTY
   §  2.  Section 461 of the real property law is amended by adding a new
 subdivision 7 to read as follows:
   7. "INSPECTION" MEAN THE PROCESS BY WHICH A  HOME  INSPECTOR  OBSERVES
 AND  PROVIDES,  PURSUANT  TO  THE  TRANSFER OF TITLE OF RESIDENTIAL REAL
 PROPERTY, CONDOMINIUM UNITS, OR COOPERATIVE APARTMENTS, A WRITTEN EVALU-
 ATION OF THE FOLLOWING READILY ACCESSIBLE COMPONENTS OF THE  RESIDENTIAL
 STRUCTURE  INCLUDING, BUT NOT LIMITED TO, HEATING, COOLING, PLUMBING AND
 ELECTRICAL SYSTEMS, STRUCTURAL  COMPONENTS,  FOUNDATION,  ROOF,  MASONRY
 STRUCTURE,  EXTERIOR AND INTERIOR COMPONENTS AND ANY OTHER RELATED RESI-
 DENTIAL HOUSING COMPONENTS AND, FOR THE PURPOSES  OF  CONDOMINIUM  UNITS
 AND COOPERATIVE APARTMENTS, ANY ASSOCIATED COMMON AREAS.
   §  3.  The real property law is amended by adding a new section 468 to
 read as follows:
   § 468. RIGHT TO INSPECTION. 1. NOTWITHSTANDING ANY LAW TO THE  CONTRA-
 RY, EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, A PROSPECTIVE PURCHAS-
 ER  OF  RESIDENTIAL  REAL PROPERTY, A CONDOMINIUM UNIT, OR A COOPERATIVE
 APARTMENT SHALL HAVE THE RIGHT TO HAVE SUCH RESIDENTIAL REAL PROPERTY, A
 CONDOMINIUM UNIT, OR A COOPERATIVE APARTMENT INSPECTED BY A HOME INSPEC-
 TOR LICENSED UNDER ARTICLE TWELVE-B OF THIS CHAPTER, WITHIN TEN DAYS, OR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09168-01-5
              

 A. 4883                             2
 
 LONGER AS THE SELLER AND PROSPECTIVE PURCHASER MAY AGREE IN WRITING,  OF
 THE  SELLER'S ACCEPTANCE OF AN OFFER TO PURCHASE MADE BY THE PROSPECTIVE
 PURCHASER.
   2.  (A) NO SELLER OF RESIDENTIAL REAL PROPERTY, A CONDOMINIUM UNIT, OR
 A COOPERATIVE APARTMENT, OR AGENT THEREOF, SHALL CONDITION  THE  ACCEPT-
 ANCE OF AN OFFER TO PURCHASE ON THE PROSPECTIVE PURCHASER'S AGREEMENT TO
 WAIVE,  LIMIT,  RESTRICT OR OTHERWISE FOREGO THE PROSPECTIVE PURCHASER'S
 RIGHT TO HAVE SUCH RESIDENTIAL REAL PROPERTY, A CONDOMINIUM UNIT,  OR  A
 COOPERATIVE  APARTMENT INSPECTED EXCEPT WHEN THE SALE OF THE RESIDENTIAL
 REAL PROPERTY, CONDOMINIUM UNIT, OR COOPERATIVE APARTMENT IS TO OCCUR AT
 AN AUCTION.
   (B) NO SELLER SHALL ACCEPT AN OFFER TO PURCHASE FROM  ANY  PROSPECTIVE
 PURCHASER OR AGENT THEREOF WHO, IN ADVANCE OF THE SELLER'S ACCEPTANCE OF
 THE  OFFER,  INFORMS  THE  SELLER EITHER DIRECTLY OR INDIRECTLY THAT THE
 PROSPECTIVE PURCHASER INTENDS TO WAIVE IN WHOLE OR IN PART THE  PROSPEC-
 TIVE PURCHASER'S RIGHT TO INSPECTION; PROVIDED, HOWEVER, THAT THE SELLER
 MAY  ACCEPT SUCH AN OFFER WITHOUT VIOLATING THIS SECTION IF THE PROSPEC-
 TIVE PURCHASER IS:  (I) THE SPOUSE, SIBLING, CHILD, PARENT, GRANDPARENT,
 GRANDCHILD, GREAT-GRANDCHILD OR GREAT-GRANDPARENT OF THE SELLER; OR (II)
 THE FORMER SPOUSE OF THE SELLER AND THE SALE OF THE STRUCTURE OR UNIT IS
 BEING MADE PURSUANT TO A JUDGMENT OR ORDER.
   (C) EACH OFFER TO PURCHASE RESIDENTIAL REAL  PROPERTY,  A  CONDOMINIUM
 UNIT, OR A COOPERATIVE APARTMENT SHALL INCLUDE THE FOLLOWING LANGUAGE:
   "BUYER  IS  ENTITLED  UNDER  SECTION  468  OF THE REAL PROPERTY LAW TO
 CHOOSE TO HAVE THE PREMISES INSPECTED AT BUYER'S EXPENSE WITHIN 10 DAYS,
 OR LONGER AS SELLER AND BUYER MAY AGREE IN WRITING, OF SELLER'S  ACCEPT-
 ANCE  OF BUYER'S OFFER TO PURCHASE. UNLESS ONE OF THE EXCEPTIONS IN SAID
 SECTION 468 APPLIES, NEITHER SELLER NOR BUYER  MAY  MAKE  ACCEPTANCE  OF
 THIS OFFER TO PURCHASE CONTINGENT UPON WAIVER, LIMITATION OR RESTRICTION
 OF  BUYER'S  RIGHT  TO  CHOOSE TO OBTAIN A HOME INSPECTION. SHOULD BUYER
 CHOOSE TO HAVE THE PREMISES INSPECTED, IF IT IS THE INSPECTOR'S  OPINION
 THAT  THE  PREMISES  CONTAIN  SERIOUS  STRUCTURAL,  MECHANICAL  OR OTHER
 DEFECTS AND IF THE REPAIR OF SUCH DEFECTS WOULD COST BUYER IN THE AGGRE-
 GATE MORE THAN THE AMOUNT INDICATED BY  THE  BUYER  HEREIN  ($________),
 THEN  BUYER  SHALL HAVE THE OPTION OF REVOKING THIS OFFER TO PURCHASE BY
 WRITTEN NOTICE TO THE SELLER OR SELLER'S AGENT WITHIN 5 BUSINESS DAYS OF
 THE DATE OF THE INSPECTION, OR LONGER AS SELLER AND BUYER MAY  AGREE  IN
 WRITING.  SUCH  NOTICE SHALL BE ACCOMPANIED BY A COPY OF THE INSPECTOR'S
 OPINION AND A COPY OF COST ESTIMATES OBTAINED BY BUYER."
   3. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO REQUIRE,  MANDATE  OR
 OTHERWISE COMPEL A PROSPECTIVE PURCHASER TO OBTAIN AN INSPECTION FOLLOW-
 ING  THE  ACCEPTANCE BY THE SELLER OF AN OFFER TO PURCHASE. THE PROSPEC-
 TIVE PURCHASER'S RIGHT TO  OBTAIN  AN  INSPECTION  SHALL  EXPIRE  IF  NO
 INSPECTION OCCURS WITHIN TEN DAYS, OR LONGER AS AGREED UPON BY THE SELL-
 ER AND PERSPECTIVE PURCHASER IN WRITING, OF THE SELLER'S ACCEPTANCE OF A
 PROSPECTIVE PURCHASER'S OFFER TO PURCHASE.
   4.  ANY SELLER WHO FAILS TO COMPLY WITH THE PROVISIONS OF THIS SECTION
 SHALL BE LIABLE TO THE PROSPECTIVE PURCHASER FOR ALL DAMAGES  CAUSED  BY
 THE  FAILURE  TO  COMPLY  AND  SHALL BE SUBJECT TO ASSESSMENT OF A CIVIL
 PENALTY NOT TO EXCEED FOUR PER CENT OF THE SALE PRICE OF THE RESIDENTIAL
 REAL PROPERTY, CONDOMINIUM UNIT, OR COOPERATIVE APARTMENT OR  TEN  THOU-
 SAND  DOLLARS,  WHICHEVER  IS  GREATER. A VIOLATION OF THIS SECTION BY A
 PERSON ENGAGED IN TRADE OR COMMERCE SHALL ALSO BE CONSIDERED  AN  UNFAIR
 AND  DECEPTIVE  ACT  OR  PRACTICE  AS  DEFINED  IN SECTION THREE HUNDRED
 FORTY-NINE OF THE GENERAL BUSINESS LAW. A VIOLATION OF THIS  SECTION  BY
 AN   AGENT   SHALL  CONSTITUTE  A  VIOLATION  OF  SECTION  FOUR  HUNDRED
 A. 4883                             3
 
 FORTY-TWO-E OF THIS CHAPTER. THE ATTORNEY GENERAL MAY TAKE  SUCH  ACTION
 AS MAY BE NECESSARY TO ENFORCE THE PROVISIONS OF THIS SECTION.
   §  4. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law. Effective immediately,
 the addition, amendment and/or repeal of any rule or  regulation  neces-
 sary  for  the  implementation  of  this  act  on its effective date are
 authorized to be made and completed on or before such effective date.