Operating Procedures Statement

In accordance with the New York State Real Property Law section 442-h which was amended in December 2021 requiring in part that Real Estate Brokers institute standardized operating procedures for the prerequisites that prospective homebuyers must meet prior to receiving any services,   We hereby disclose to all prospective buyers/tenants and prospective sellers/landlords, the following with regard to requirements of 716SOLD Real Estate and Hometown Elite Realty, both NYS licensed real estate brokers:  Upon initial meeting and substantive contact with a prospective buyer/tenant or seller/landlord, you will be presented a New York State Agency Disclosure Form to review, discuss and sign before proceeding. Additionally, you will also be presented with a  New York State Housing and Anti-Discrimination Disclosure Form to also review, discuss and sign before proceeding.  As a prospective buyer/tenant:  • We do not require proof of identification nor your social security number. • We do not require a buyer to sign an exclusive buyer broker agreement, nor do we charge a buyer transaction fee. • We do not require a mortgage pre-approval or pre-qualification in order for you to be shown properties. • We do not have a business relationship with or own a mortgage company or insurance company, nor do we receive any compensation for insurance or a mortgage that you may obtain.  Understand that a seller or landlord of a property may have their own prerequisites prior to allowing a viewing, at which time you can make the decision to proceed or not on an individual basis.   When you decide to submit an offer on a property, the seller may require a mortgage pre-qualification or pre-approval statement from a lender to accompany your offer. If you wish to submit an offer without obtaining a mortgage, you may be required to submit a letter from a federally insured financial institution in the US confirming that you have adequate funds to purchase and close the transaction without obtaining a mortgage. The same may be for a private mortgage.  As mentioned,  Herein, you will find the disclosures that are referenced above.