Standard Operating Procedure
On December 21, 2021, New York Real Property Law section 442-h (rules of the Secretary of State relating to real estate brokers and salespersons) was amended to require, in part, that real estate brokers “institute standardized operating procedures for the prerequisites prospective homebuyers must meet prior to receiving any services.” What follows are Silo Ridge Realty, LLC and Silo Ridge Management Services, LLC’s standard operating procedures as required by this new law.
Client Identification
Silo Ridge Realty, LLC and Silo Ridge Management Services, LLC do not require its clients to show identification before working with our agents. However, a Seller of real estate may require identification prior to showing a property and/or as part of any purchase offer.
Exclusive Broker Agreements
Silo Ridge Realty, LLC and Silo Ridge Management Services, LLC do not require exclusive broker agreements.
Pre-Approval For Mortgage Loans
Silo Ridge Realty, LLC and Silo Ridge Management Services, LLC do not require its clients to show pre-approval for a mortgage loan / proof of funds before working with our agents.