New York State law requires that McGrath Realty, Inc. detail prerequisites that all prospective homebuyers (“Prospective Buyers”) must meet before they receive services from a New York State licensed real estate salesperson from McGrath Realty, Inc.
McGrath Realty, Inc. licensed real estate salespeople must apply these pre-requisite procedures consistently with respect to any Prospective Buyer.
- Prospective Buyer Identification
McGrath Realty, Inc. does not require prospective buyers to provide identification to work with one of its agents. Prospective buyers may be required to provide identification if
- at the direction of a homeowner or listing agent, and/or
- requested by another third-party transaction participant, including but not limited to a seller or listing agent.
- Buyer Representation Agreement
McGrath Realty, Inc. does not require prospective buyers to sign an exclusive buyer representation agreement to work with one of its agents. An exclusive buyer representation agreement may be mutually agreed upon by the buyer and agent, however, it is not required.
- Prospective Buyer Evidence of Pre-Approval
McGrath Realty, Inc. does not require prospective buyers to provide confirmation of a loan or a mortgage pre-approval to work with one of its agents. After the first round of showings, the McGrath Realty, Inc. agent will ask for pre-approval or proof of funds. Also, a third-party, such as a seller or listing agent, may require proof of pre-approval prior to attending a showing or receiving an offer from the prospective buyer.
If you have any questions regarding McGrath Realty, Inc. Standard Operating Procedures, please contact us at (845) 896-5444.