Know Your Rights as a Home Seller in New York State

Selling your home is one of the largest financial transactions of your life. New York law gives sellers meaningful protections — but only those who understand them benefit from them. Here's a comprehensive look at your rights throughout the selling process.

Your Right to Choose Your Agent — and Your Terms

You have the right to interview and select any licensed real estate agent you choose. Your listing agreement is a contract — read it carefully before signing. Key terms to negotiate include the commission rate, the listing duration (typically 90–180 days), and what happens if you find a buyer yourself. You can also negotiate an exclusive right to sell, an exclusive agency agreement, or an open listing depending on your situation.

Your Right to Set the Asking Price

You — not your agent — have the final say on your listing price. Your agent's job is to provide a Comparative Market Analysis (CMA) and recommend a pricing strategy. You are not obligated to accept any offer, no matter what price you list at. However, unrealistic pricing will hurt your days on market and ultimately your final sale price.

Your Right to Accept, Reject, or Counter Any Offer

In New York, an accepted offer does not create a binding contract until attorneys on both sides have reviewed and approved the written purchase contract. Until that happens, you are generally free to:

• Accept any offer you choose, including one that isn't the highest price
• Counter any offer with different terms
• Reject all offers without explanation (subject to fair housing laws — you cannot reject based on protected characteristics)
• Continue showing the property during the attorney review period

Your Disclosure Obligations — and Your Rights Within Them

New York's Property Condition Disclosure Act (PCDA) requires you to disclose known material defects. If you choose not to complete the disclosure form, you must credit the buyer $500 at closing. Key points:

• You must disclose defects you know about — you are not required to investigate for unknown issues
• "As-is" sales are permitted in New York, but you must still disclose known defects
• Your attorney can help you navigate ambiguous disclosure questions

Your Right to Privacy During Showings

You control how your home is shown. You can require 24-hour advance notice for showings, restrict showing hours, and decline open houses entirely. Work with your agent to set showing instructions in the MLS that match your preferences.

Your Right to Keep Personal Property

New York real estate contracts distinguish between "fixtures" (permanently attached — they convey with the property) and "personal property" (moveable — you keep them). If you plan to take specific items — a chandelier, built-in shelving units, garage refrigerator — list them explicitly in the contract as exclusions before signing.

Your Right to a Fair Settlement Statement

At closing, you are entitled to a full itemized accounting of every dollar coming in and going out of the transaction. Review the closing disclosure carefully with your attorney. Common seller costs include:

• Agent commission (negotiated)
• NYS transfer tax (0.4% of sale price; NYC has additional taxes)
• Attorney fees
• Mortgage payoff and any prepayment penalties
• Property taxes (prorated to closing date)