New York A04883 establishes the right for prospective buyers to inspect residential real properties, condominium units, and cooperative apartments.

New York A04883 amends the real property law to establish the right for prospective buyers to inspect residential real properties, condominium units, and cooperative apartments. This right allows buyers to have the premises inspected within ten days of the seller's acceptance of the offer, or longer if agreed upon in writing. The bill prohibits sellers from accepting offers contingent on the buyer waiving their inspection rights, except in specific familial or legal circumstances. Failure to comply with these provisions subjects sellers to potential damages and civil penalties.

New York A04883 establishes the right for prospective buyers to inspect residential real properties, condominium units, and cooperative apartments.

New York A04883 amends the real property law to establish the right for prospective buyers to inspect residential real properties, condominium units, and cooperative apartments. This right allows buyers to have the premises inspected within ten days of the seller's acceptance of the offer, or longer if agreed upon in writing. The bill prohibits sellers from accepting offers contingent on the buyer waiving their inspection rights, except in specific familial or legal circumstances. Failure to comply with these provisions subjects sellers to potential damages and civil penalties.