Yes, you can sell a house as is in New York. Selling as is means you will not make repairs and the buyer accepts the home in its current condition. You still have legal duties, though. Since March 20, 2024, sellers of most one to four family homes in New York must give the buyer a completed Property Condition Disclosure Statement. The old option of handing the buyer a $500 credit instead of filling out the form is gone.

What does selling a house as is really mean?

As is describes who handles repairs, not what you must disclose. When you list as is, you are telling buyers you will not fix the roof, replace the boiler, or update the kitchen before closing. The price should reflect that. Buyers can still inspect the home, and they can still walk away during the contract stage if what they find changes their mind.

What changed with the New York disclosure law?

For years, most sellers in New York City gave buyers a $500 credit at closing instead of completing the Property Condition Disclosure Statement. A 2023 amendment ended that option, effective March 20, 2024. Now sellers must complete the form based on what they actually know about the home. The updated form also asks about flood history, flood risk, and flood insurance.

You are not required to hire inspectors to investigate your own home, but you must answer honestly. A knowingly false answer can expose you to claims from the buyer later.

Does the disclosure rule apply to condos and coops?

The disclosure law covers one to four family residential homes. Coop and condo apartment sales follow a different process, and certain transfers, like some estate sales, can be exempt. Your attorney will tell you exactly which rules apply to your sale.

Who buys houses as is in New York City?

As is homes attract three main types of buyers:

• Investors and builders who plan to renovate and resell or rent
• Owner occupants with vision who want a lower price and are willing to put in sweat equity
• Cash buyers who can close quickly without a lender requiring repairs

The more buyers you put in front of your home, the stronger your price. A house listed on the open market usually earns more than a quick sale to a single cash buyer, even in poor condition.

How should you price an as is home?

Start with what the home would sell for in good condition. Then subtract a realistic cost of the repairs a buyer will face, plus a cushion for their time and risk. Get contractor estimates for the big items so you can share real numbers. Buyers pay more when they can see the work clearly instead of guessing.

Small improvements can still pay off. A deep clean, a cleared out basement, and good photos can lift your sale price for very little money.

When does selling as is make sense?

• You inherited the home and do not want to manage a renovation
• You need to sell on a short timeline
• The repairs are larger than you can fund
• You live out of town and cannot oversee contractors

Working with the best realtor in New York means getting honest numbers on both paths, selling as is or making targeted repairs first, so you can choose the one that leaves more money in your pocket.

Frequently Asked Questions

Do I still need to disclose problems if I sell as is in New York?

Yes. Most sellers of one to four family homes must complete the Property Condition Disclosure Statement, even when selling as is.

Can I still give the buyer a $500 credit instead of the disclosure form?

No. That option ended on March 20, 2024.

Will I get less money selling as is?

Usually, yes, because buyers price in the repairs. Marketing the home widely to many buyers helps close that gap.

Thinking about selling as is?

Call the REHUB team at 718-550-6497 or visit REHUBTEAM.com. We will show you what your home could sell for as is and with repairs, so you can make the right call.

This article is for general information only and is not legal, tax, or financial advice. Rules and programs change, so confirm current details with the right professional before you act.