New York Real Estate Purchase and Sale Agreement (Investor PDF)
An investor-ready purchase and sale agreement drafted for New York transactions, plus a plain-English summary of what New York law expects in a residential purchase contract. Free PDF, no signup required.
New York Purchase and Sale Agreement
Free PDF • Updated July 2026
Part of our free real estate investor forms library.
What New York Requires in a Purchase Contract
These are the contract and disclosure requirements our research identified for New York residential transactions, with statute citations. Requirements change; always confirm the current rule before closing.
Property Condition Disclosure Statement (PCDS) Verbatim language required
N.Y. Real Property Law Art. 14, §§ 462-467 (Property Condition Disclosure Act), as amended by 2023 N.Y. Laws ch. 484 (S5400), eff. March 20, 2024
Seller of 1-4 family residential real property must deliver the completed statutory PCDS form to the buyer or buyer's agent BEFORE the buyer signs a binding contract of sale; a copy must be attached to the contract. The 2023 amendment ELIMINATED the former $500 closing-credit opt-out, making delivery of the completed form mandatory, and added new flood questions (FEMA Special Flood Hazard Area / 100-yr floodplain, Moderate Flood Hazard Area / 500-yr floodplain, federal flood insurance requirement, prior flood damage, flood insurance claims, and FEMA/SBA or other federal disaster assistance for flood damage).
Applies to: 1-4 family residential real property; EXCLUDES condominium units, cooperative apartments, and certain other property per RPL § 461; does not apply to statutorily exempt transfers (e.g., foreclosure, estate, intra-family court-ordered transfers per § 463)
Federal Lead-Based Paint Disclosure (note only) Verbatim language required
42 U.S.C. § 4852d; 24 C.F.R. Part 35 / 40 C.F.R. Part 745 (federal, not NY)
Pre-1978 housing: contract must contain the federal Lead Warning Statement (verbatim federal text), seller disclosure of known lead paint, records, EPA pamphlet, and a 10-day inspection opportunity. Federal requirement applicable in all three states.
Applies to: pre-1978 residential housing
Agricultural District Disclosure Notice Verbatim language required
N.Y. Agriculture & Markets Law § 310 (Art. 25-AA)
If the property is wholly or partly within a state-certified agricultural district, the seller must present a disclosure notice with statutorily prescribed text, signed by both parties prior to sale; receipt is noted on the property transfer report (RP-5217).
Applies to: any purchase/sale contract for property wholly or partially within an agricultural district
Uncapped Natural Gas Well Disclosure
N.Y. Real Property Law § 242
Seller with actual knowledge of uncapped natural gas wells on the property must inform the purchaser prior to entering into the contract of sale; violation supports recovery of actual damages.
Applies to: all real property sales where seller has actual knowledge of uncapped gas wells
Utility surcharge / electric-gas line extension disclosure
PCDS question under RPL § 462(2); see also N.Y. Energy Law § 17-103 (heating/cooling bill history on request)
Utility surcharges for line extensions and special assessments are disclosed as a question WITHIN the statutory PCDS form, not via a separate contract notice; Energy Law § 17-103 separately entitles a prospective purchaser to the building's energy bill history from the utility on request.
Applies to: 1-4 family residential (PCDS scope)
New York Closing Practice at a Glance
| Deed convention | Bargain and Sale Deed with Covenants Against Grantor's Acts is the customary deed for arm's-length residential resales in most of NY (full Warranty Deeds more common in some upstate counties; Referee's/Executor's deeds without covenants for distressed/estate sales) |
| Transfer tax | NYS Real Estate Transfer Tax (Tax Law Art. 31, § 1402): $2.00 per $500 (0.4%); additional 'mansion tax' (§ 1402-a): 1% on residential consideration of $1,000,000+; NYC adds RPTT (Admin. Code § 11-2102): 1.0% up to $500k / 1.425% over $500k residential, plus NYS supplemental tax and NYC supplemental mansion tax tiers (1.25%-3.9%) on $2M+ NYC residential |
| Customary payer | seller pays base state transfer tax (Tax Law § 1404) and NYC RPTT; BUYER pays the 1% mansion tax and NYC supplemental mansion tiers (falls to seller only if buyer is exempt/fails to pay) |
| Attorney closing | Attorney required or customary. Not required by statute, but attorney representation on both sides is near-universal custom statewide; attorneys typically prepare/negotiate the contract (brokers may only fill in blanks on bar-approved forms in some regions) and conduct the closing. Practically mandatory in NYC co-op/condo deals. |
| Witness and notary | Notary/acknowledgment only - deeds must be acknowledged (or proved by a subscribing witness as an alternative) to be recorded, RPL §§ 291, 306; no witness requirement when acknowledged before a notary. Recording requires TP-584 transfer tax return and RP-5217 transfer report. |
More Investor Resources
Disclaimer: This template and summary are provided free for reference and educational purposes. Clearway Home Buyers is not a law firm and does not provide legal advice, and no attorney-client relationship is created by downloading or using these forms. Real estate law varies by state and by transaction. Review any form with a licensed New York attorney before use. Read the full disclaimer.
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