NYS Standard Operating Procedures for Home Buyers

STANDARD
OPERATING PROCEDURES FOR PURCHASERS

OF RESIDENTIAL
REAL ESTATE PURSUANT TO NYS REAL PROPERTY LAW §442-H

 Following are the Standard Operating Procedures (“SOP’s”) of
the LORBER HOFFMAN RE GROUP (“Broker”) setting forth the
prerequisites for prospective home buyers (regardless of agency representation)
prior to receiving services from Broker and its sales agents.

Standard Operating Procedures:

1. Personal Identification. Prospective home buyers
are not required to provide personal identification prior to receiving services
from Broker and its sales agents.*

2. Exclusive Buyer Representation Agreements.
Prospective home buyers are not required to sign an exclusive buyer
representation agreement prior to receiving services from Broker and its sales
agents, but such an agreement may be requested and used upon the mutual
agreement of a LORBER HOFFMAN RE GROUP agent and a home buyer.

3. Mortgage Pre-Approval. Prospective home buyers are
not required to provide a mortgage preapproval prior to receiving services from
Broker and its sales agents.*

 * Regardless of
Broker’s Standard Operating Procedures, a third party, such as a homeowner or a
listing broker, may require this information prior to showing a property,
providing admission to an open house and/or receiving a purchase offer.

Effective April 20, 2022