New York Home Seller
Legal Checklist 2026

New York sellers must provide a completed PCDS to buyers before signing a contract, OR provide a $500 credit at closing. The form covers structure, systems, environmental hazards, and legal status of the property. Knowingly making false statements creates legal liability.

If your home was built before 1978, federal law requires: (1) disclose known lead-based paint hazards, (2) provide the EPA pamphlet "Protect Your Family From Lead in Your Home," and (3) give buyers 10 days to conduct a lead inspection. Penalties for non-compliance can exceed $10,000 per violation.

Your broker must present and explain the Agency Disclosure Form at or before the first substantive contact about a specific property. This explains whether the agent represents you (seller), the buyer, or both (dual agency). Keep a copy.

Unlike most states, New York real estate closings are almost universally handled by attorneys for both buyer and seller. Your attorney drafts and reviews the contract, negotiates rider terms, clears title issues, and represents you at closing. Do not skip this step.

A title search reveals liens, judgments, unpaid taxes, easements, or encumbrances on the property. Surprises at the title search stage can delay or kill a deal. Identify and address issues before listing — not after a buyer is under contract.

Especially important for inherited properties, recent divorces, or co-owned properties. All sellers on the deed must sign at closing. If the deed needs updating (e.g., after a spouse's death), work with your attorney to correct this before listing.

Search NYC DOB (Department of Buildings) for open or expired permits. Unpermitted additions, finished basements, or illegal apartments must be disclosed on the PCDS. Buyers and their attorneys routinely run this search. Unresolved permits can significantly delay closings.

Keep your policy active through closing day. Notify your insurer of the planned closing date. Cancel or update the policy only after closing is confirmed and keys are handed over.

After both parties sign the contract, each attorney typically has 3 business days to review and raise objections, request changes, or add riders. This is standard practice in New York — do not be alarmed if the buyer's attorney sends a lengthy rider. Your attorney will negotiate on your behalf.

Buyers may request: utility bills (12 months), property tax bills and receipts, survey, prior inspection reports, renovation receipts, appliance warranties, and service contracts. Prompt document delivery keeps the deal moving and demonstrates good faith.

A CO (or Letter of Completion) must exist for the home and all improvements — additions, garages, finished basements, converted attics. Search NYC DOB. Buyers cannot obtain a mortgage on a structure without a valid CO. If your CO is missing or outdated, address this during the contract period.

If the property is part of a homeowners association or condominium, provide: current budget, bylaws, house rules, most recent meeting minutes, reserve fund statement, and any pending special assessments. Most contracts require these within 5–10 days of signing.

If selling a cooperative apartment, the buyer must be approved by the co-op board before the sale can proceed. The board package includes financial statements, references, employment verification, and typically a personal interview. Average board review in Queens takes 4–8 weeks. Plan accordingly and ensure your buyer's agent is experienced with co-op sales.

Transfer taxes are paid from seller's proceeds at closing.

Queens is part of New York City — both NYC and NYS transfer taxes apply to every Queens residential sale.

All sellers must present a valid, unexpired government-issued photo ID — driver's license, passport, or state ID. If signing via power of attorney, ensure the POA document is properly notarized and reviewed by the title company in advance.

Bring every set of keys, garage door openers, gate codes, mailbox keys, and pool or storage unit keys. Include appliance manuals, warranties, and transferable service contracts. If anything is missing, notify your attorney before closing day.

Photograph gas, electric, and water meter readings on the morning of closing. This establishes the exact cutoff date for utility billing and prevents disputes over final bills.

Before wiring any funds, call the title company at a number you looked up yourself — never use a number from an email. Wire fraud targeting real estate closings is a multi-billion-dollar crime. Gadura Real Estate LLC will never send wire instructions by email or text. If you receive such a message, call us immediately: (718) 850-0010.

Submit a change of address at usps.com. Forward your mail for at least 12 months to catch annual statements, tax documents, and legal notices from the old address.

Only cancel after confirming closing has occurred and the deed has been transferred. Do not cancel in advance — if closing is delayed, you need continuous coverage.

Report the sale on your federal return (Schedule D / Form 8949) and NY State return. If you qualify for the Section 121 Exclusion ($250,000 for singles / $500,000 for married couples — requires 2 of last 5 years as primary residence), document the exclusion. Consult your CPA about depreciation recapture if you rented the property.

The closing attorney or title company issues a 1099-S reporting the gross proceeds to the IRS. You'll receive a copy — give it to your accountant when preparing your tax return.

Retain: Closing Disclosure, deed copy, title insurance policy, survey, all inspection reports, all contracts and riders, and all tax documents. Seven years covers standard IRS audit statutes. Keep basis documentation indefinitely for capital gains purposes.