Affiliated Business Arrangement Disclosure Statement
Provided in accordance with Section 8 of the Real Estate Settlement Procedures Act (RESPA), 12 U.S.C. § 2607, and Regulation X, 12 CFR Part 1024 Appendix D.
Clients and Prospective Policyholders of Qureshi Insurance Agency LLC
Qureshi Insurance Agency LLC / Farmers Insurance & Babylon Realty
1. Notice of Business Relationship
This is to give you notice that Qureshi Insurance Agency LLC (an appointed independent agency representing Farmers Insurance) has an affiliated business relationship with Qureshi Real Estate Agency LLC (dba Babylon Realty).
Specifically, Sajjad "Sam" Qureshi (legal name: Sajjad Qureshi) is the Owner and Appointed Insurance Agent of Qureshi Insurance Agency LLC (Michigan DIFS Agency NPN #20382176, Producer NPN #19617416 / System ID #0138809) and is also the Owner and Managing Broker of Qureshi Real Estate Agency LLC dba Babylon Realty (Michigan LARA Broker License #6504431511, Realcomp MLS #426381).
Because of this relationship, a referral of a consumer by Qureshi Insurance Agency LLC to Babylon Realty (or reciprocally from Babylon Realty to Qureshi Insurance Agency LLC) may provide Sajjad Qureshi, Qureshi Insurance Agency LLC, and/or Babylon Realty a financial or other pecuniary benefit.
2. Estimated Charges for Settlement & Insurance Services
Set forth below is the estimated charge or range of charges for the services listed. You are NOT required to use the listed provider as a condition for the settlement of your loan on, purchase, sale, or lease of real property, or for the placement of insurance.
Settlement Service: Insurance
Qureshi Insurance Agency LLC(Appointed Farmers Insurance Agent)
- Homeowners / Hazard Insurance: $800 – $3,500+ annually (determined strictly by Farmers Insurance underwriting rating factors, replacement cost, deductible, and risk parameters).
- Michigan Auto PIP Insurance: Rates governed strictly by DIFS-approved filings.
- Commercial / Landlord BOP: $600 – $5,000+ annually based on property occupancy.
Settlement Service: Real Estate
Babylon Realty(Qureshi Real Estate Agency LLC)
- Seller Representation: Negotiated brokerage commission fee typically between 2.0% – 3.0% of gross sales price (all commissions are fully negotiable by law).
- Buyer Brokerage Services: Governed by written Buyer Broker Agreement; typically covered via negotiated seller concession or agreed retainer fee.
Statutory Notice of Consumer Freedom of Choice
THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.
3. Direct Links to Independent Entities
To inspect either business entity independently or review their respective terms and privacy documentation, please use the links below:
Consumer Acknowledgment: By requesting an insurance quote via this portal or engaging Qureshi Insurance Agency LLC, you acknowledge that you have read this disclosure form, understand the affiliated business arrangement between Qureshi Insurance Agency LLC and Qureshi Real Estate Agency LLC (dba Babylon Realty), and understand that referring either service may result in a financial or other benefit to the common owner.
Qureshi Insurance Agency LLC is an independent contractor agent representing Farmers Insurance. All policies, underwriting acceptance, and binder issuances are subject to Farmers Insurance underwriting guidelines.