Bed Bugs and New York Real Estate Rules

According to one expert if your selling a co-op or a condo that had a bed bug problem you don’t have to mention it to prospective buyers since a Property Condition Disclosure Act is not required to be filled out for these types of properties.

Apartment owners get to hide behind the “Doctrine of caveat emptor” which essentially says, let the buyer beware. But it gets silly. If a potential buyer were to ask  specifically if the apartment had been infested with bed bugs the owner is obligated to give an honest answer. So perhaps sellers should pass out martinis to prospective buyers in order to cause them to forget about asking the dreaded bed bug question. 

Buyers of New York City condos and co-ops should walk into the residence and after a firm handshake say “hello,  have you ever had bed bugs?” Of course a sly property owner could tell the judge “I said no because I thought he asked about red slugs.”

If the real estate broker knows there is a bed bug problem he is obliged to tell potential buyers. However, the owner does not have to tell the broker and thus can avoid having the truth come out.  

For bed bug control call a professional.