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YOUR SEARCH BEGINS HERE!

"Tyler was a real estate concierge and made the entire experience seamless. He found me the house of my dreams and supported me through the entire process. He’s super responsive, knowledgable and really cares about his clients. I recommend him to all my friends and family, he’s the best!"

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ZILLOW BUYER CLIENT REVIEW

PROSPECTIVE BUYER
STANDARD OPERATING PROCEDURE

Purpose

To ensure all prospective home buyers are treated fairly and consistently in compliance with New York State law and the brokerage’s ethical standards, this SOP outlines the required documentation and procedures before showing properties. This SOP applies to all licensed real estate agents, brokers, and staff affiliated with ORA REAL ESTATE LLC when working with new prospective home buyers in the State of New York.

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Policy on Buyer Pre-Qualifications

ORA REAL ESTATE LLC requires the following from all prospective buyers prior to showing any properties:

 

Identification – NOT REQUIRED


Acceptable forms of identification will not be required for showings but will be required when submitting any offers to purchase a property.

 

Buyer Representation Agreement – REQUIRED


A signed Exclusive or Non-Exclusive Buyer Broker Agreement, or other written acknowledgment of agency relationship, is required before conducting property showings. This is required in accordance with the NAR settlement.

 

Mortgage Pre-Approval or Proof of Funds – NOT REQUIRED 

  • Exception to this rule: The only time a Pre-approval or POF will be required in order to confirm a showing is if required by the listing agent or the home owner and noted in the MLS. ​

  • If financing: A valid mortgage pre-approval letter from a reputable lender is strongly recommended but not required to confirm a showing. However, it is required to submit an offer to purchase any property. Due to the fast-moving, competitive nature of the real estate market, we strongly recommend that any prospective buyer have a pre-approval letter on hand so that, should they wish to submit an offer, there is no time wasted waiting for a lender to provide the necessary document.

  • If paying cash: Proof of funds (bank statement, letter from financial institution). Just like with a pre-approval, we do not require proof of funds to confirm property showings unless it is required by the listing agent or the property owner. However, proof of funds is required to submit any offers to purchase properties.Note: Exceptions to the above requirements may be made at the discretion of the broker in cases involving open houses or showings of properties listed by the brokerage.

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