Bill > A08889

This bill establishes the right to inspection of residential real properties, condominium units, and cooperative apartments in New York. It defines "inspection" as the process by which a home inspector observes and provides a written evaluation of various components of the residential structure. The bill grants prospective purchasers the right to have the property inspected within 10 days (or longer as agreed) of the seller's acceptance of the purchase offer, and prohibits sellers from conditioning acceptance on the waiver of this right, except for sales at auction. The bill also requires specific language to be included in purchase offers and outlines penalties for sellers who fail to comply with the provisions.