Selling a House As-Is: What It Means in New York

Selling a house as-is in New York means you won’t make repairs or give credits for the home’s condition. It does not excuse you from the disclosures the law requires, and it doesn’t protect you if you hide or lie about a defect. If you’re weighing a fast cash offer against a regular listing, compare the money you’d actually walk away with, not only the headline price.

What “as-is” actually means

An as-is clause is a contract term. It tells the buyer that you won’t fix anything, won’t pay for repairs the inspection turns up, and are selling the home in its present condition. New York’s disclosure law says plainly that nothing in it stops a buyer and seller from agreeing to an as-is sale.

What it does in practice:

• The buyer can still inspect, but you’re not promising to act on the results.
• You’re usually not giving a repair credit at closing.
• The buyer prices the home’s condition into the offer instead.

What it doesn’t do:

• It doesn’t replace the Property Condition Disclosure Statement for a one- to four-family house.
• It doesn’t replace the federal lead-paint disclosure for a home built before 1978.
• It doesn’t give you cover to hide a problem. Actively concealing a defect or answering a disclosure question falsely can still lead to a fraud claim. As-is protects you from having to fix things, not from telling the truth.

The disclosure rules that still apply

The Property Condition Disclosure Statement (PCDS)

Under Real Property Law §462, the seller of a one- to four-family home must complete and sign the PCDS and deliver it before the buyer signs a binding contract. The form covers things like the roof, water, sewer, environmental issues, and, since the 2024 update, flood history and flood insurance. The form itself says it is not a warranty.

For years, many New York sellers skipped the form and gave the buyer a $500 credit at closing. That option is gone. The Department of State says the revised PCDS became mandatory on March 20, 2024, and “the option to skip the PCDS for a $500 credit is no longer available.” A seller who willfully fails to provide it can be liable for the buyer’s actual damages (§465). Our property condition disclosure guide walks through the form.

Lead paint (homes built before 1978)

The EPA’s rule applies to most pre-1978 housing whether or not the sale is as-is. You must disclose known lead-based paint and hazards, hand over any reports you have, give the buyer the EPA pamphlet Protect Your Family From Lead in Your Home, include a Lead Warning Statement in the contract, and offer a 10-day window for a lead inspection (the parties can agree in writing to a different period, and the buyer can waive it). Keep the signed disclosure for three years. Foreclosure sales are exempt. See lead paint disclosure when buying or selling.

Your three ways to sell a house that needs work

Listing as-is on the open market is the option sellers often skip. You still get the competition of multiple buyers, but you don’t spend money on repairs. Investors can bid on a listed home too, so the open market shows what they would really pay against everyone else.

How a cash offer compares: an illustrative example

There is no official “as-is discount.” What a buyer knocks off depends on the repairs, the neighborhood and the market. The numbers below are made up to show the math, not typical figures. Swap in your own using our seller net proceeds calculator.

In this example the cash offer is $100,000 less than listing as-is, even after the commission saving. A cash sale can still be the right call if you need certainty, can’t afford carrying costs, or the home can’t be financed. Just know the price of that speed. Transfer taxes, your attorney and paying off the mortgage apply on every path; see NYC seller closing costs.

How to evaluate a “we buy houses” offer

1. 1

   Get a value from the open market first

   Ask two or three listing agents for a comparative market analysis on the home as it is, or run your own with how to price your home. Check recent sales nearby on Roofy’s NYC sales data.
2. 2

   Get more than one cash offer

   One letter is not a market. Ask several investors to bid, in writing, with the same deadline.
3. 3

   Read the contract, not the flyer

   Look for inspection or “due diligence” periods that let the buyer walk away or cut the price later, a small deposit, assignment clauses (the buyer can flip the contract to someone else), and who pays transfer taxes and closing costs.
4. 4

   Confirm proof of funds and who the buyer is

   Ask for a bank statement or lender letter and the legal name of the buying entity. Search the name and any related LLC.
5. 5

   Hire your own real estate attorney

   Not one the buyer suggests. The Attorney General warns not to use a lawyer referred by someone with an interest in your property. See what a real estate attorney does.
6. 6

   Never sign over the deed before closing

   A legitimate buyer pays at a closing with title insurance. Don’t sign a deed, power of attorney or “option” document at your kitchen table.

Red flags the Attorney General warns about

New York’s Attorney General treats deed theft as a serious problem in the city. Its guidance for homeowners includes:

• “Never transfer your deed or ownership” of your property without advice from your own attorney.
• “Read everything. Never sign anything you do not understand.”
• Legitimate organizations won’t ask you to transfer your property rights or promise you can buy the home back later.
• Be wary of up-front fees for a loan modification, which the Attorney General says are typically unlawful.

Report suspected deed theft to the Attorney General at 1-800-771-7755; in New York City, the Attorney General’s page also lists 718-707-2100 for the Sheriff. Free housing counseling is available through the Homeowner Protection Program at 855-466-3456. NYC homeowners can also sign up for the City Register’s Notice of Recorded Document program, which mails you a notice when a document is recorded against your property. More in our deed theft protection guide.

Tired of the calls and letters?

The Department of State can designate “cease and desist zones” where homeowners can sign up to stop solicitation to sell. The only zone currently listed is part of Brooklyn Community Board 17. It covers real estate brokers, salespeople and other people regularly engaged in buying and selling real estate, and applies to residential property only. Homeowners elsewhere who are repeatedly solicited can submit the department’s Cease-and-Desist Questionnaire, which the state uses to decide whether to investigate adding a zone.

Before you sign: a short checklist

• Is the PCDS required for my sale? If yes, did I complete it honestly and deliver it before the buyer signed?
• Is the house pre-1978? Did I give the lead disclosure, pamphlet and warning statement?
• Did I compare a cash offer against at least one as-is market valuation?
• Does the contract let the buyer renegotiate after inspection? For how long?
• Did my own attorney review the contract, and will the sale close with title insurance?

Selling is a big decision, and this is general information, not legal advice. For the full process, start with how to sell a home in NYC, or estimate your profit tax with the home sale capital gains calculator.