Radon is a naturally occurring gas that can be harmful to humans. If a Purchaser chooses to test a home for radon, their attorney may include a radon contingency clause in the Purchaser’s rider. The radon contingency may be warranted because the test results may not be received from the laboratory until after the contract is fully executed. In the event that the radon levels exceed the limits deemed safe by the United States Environmental Protection Agency, the Seller may agree to remediate the radon (e.g. by adding a ventilation system) or cancel the contract. Alternatively, a Purchaser may choose to waive any radon remediation, and undertake the remediation at the Purchaser’s cost and expense after the closing. The terms and conditions for the radon test are often specified in a Rider to the Contract of Sale.
*Thank you for taking the time to read this article. This article is part of our “From Contract to Closing; Demystifying NY Residential Real Estate” Series. Other aspects of residential real estate transactions in New York are discussed in other Parts of this series.
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