Buyer Documents | The Simonian Team

Buyer Documents THIS BOOKLET IN CLUDES THE KEY FORM S AN D DISCLOSURES YOU?LL REVIEW AN D SIGN DURIN G THE HOM E-BUYIN G PROCESS.

Exclusive Buyer Representation Agreement Consent to Designated Agency Consent to Dual Agency (if applicable) Massachusetts Mandatory Licensee?Consumer Relationship Disclosure Offer to Purchase Real Estate Offer to Purchase Contingency Addendum Wire Policy Notification Home Inspector Facts for Consumers Lead Paint Disclosure

Exclusive Buyer Representation Agreement Buyer’s Name: _________________________________________________ (herein “Buyer”) Broker: Gibson Sotheby’s International Realty (referred to as “Gibson SIR”)

The Simonian Team Buyer’s Agent: ______________________________________________________ Betty Gibson Associates, Incorporated, doing business as Gibson Sotheby’s International Realty (referred to as “Gibson SIR”), the Buyer’s Agent and the Buyer, in exchange of mutual promises agree as follows: 1. PROPERTIES Buyer is retaining Gibson SIR to be the exclusive Broker representing the Buyer in the purchase of real property. The Buyer retains the sole and absolute right to determine if a property is acceptable.

2. TERM This Agreement shall be in effect from the date of signing through 120 ________________________________________or to completion of the Acquisition of the property, if under agreement, whichever is later (the “Term”). The Buyer’s obligation to pay the compensation will continue for a 90-day period after the expiration of the Term of this Agreement for properties introduced and shown by the Buyer’s Agent during the Term.

3. GIBSON SIR AGREES TO: ● ● ● ● ● ● ● ● ● ●

Prepare a wants/needs list for the Buyer.

Use reasonable efforts to locate properties acceptable to the Buyer through the Multiple Listing Service (MLS) and off MLS. Work in the Buyer’s best interest and preserve the Buyer’s confidential information.

Maintain regular communication with the Buyer throughout the term of the Agreement.

Attend scheduled showings of properties.

Provide professional advice and guidance to the Buyer.

Refer the Buyer to professionals such as lenders, attorneys, home inspectors, etc.

Assist the Buyer in determining the market value of properties of interest.

Provide a C Market Analysis for properties the Buyer is considering writing offers for, upon the Buyer’s request.

Assist the Buyer in negotiating terms and conditions of the offer and home inspection issues, if applicable.

4. BUYER AGREES TO: ● ● ● ●

Work exclusively with Gibson SIR during the Term and to conduct all real estate purchase negotiations through Gibson SIR and the Buyer’s Agent.

Cooperate with Gibson SIR by providing necessary personal information to evaluate Buyer’s needs and qualifications.

Notify any other broker that the Buyer is working with Gibson SIR under the terms of this Agreement.

Within 7 days of the entering into this Agreement and/ or prior to the Offer to Purchase, the Buyer will provide the Buyer’s Agent a pre-approval from a lender (if the Buyer is seeking financing) .

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The Buyer represents that the Buyer is not working with any other Buyer’s Agent/Broker under the terms of an Exclusive Buyer Representation Agreement. . COMPENSATION The Buyer herein acknowledges to being advised that broker commissions are not set by law and are fully negotiable.

Prior to showing a property as a buyer representative, a real estate agent who is a REALTOR® must enter into a written agreement with the buyer defining how the real estate broker will be paid. ● ● ● ● ● ●

The Buyer agrees to pay Gibson SIR compensation for representation in the amount of _____ 2.5 % of the gross purchase price of any property purchased during the Term of this Agreement.

The Buyer’s obligation to pay the compensation will be at the time the Buyer purchases the property and takes title.

No fee will be due under this Agreement if the Buyer does not purchase a property.

Gibson SIR may not accept Compensation or a fee in excess of the fee agreed in this Agreement.

A seller or listing agent may offer to pay some or all of the compensation due to a broker representing a buyer but is under no legal to do so.

The Buyer may, at the Buyer’s option, either (1) seek to have the Compensation paid in whole or in part by the seller in the terms of the offer to purchase and/or (2) pay the Compensation directly to Gibson SIR at closing.

. CONSENT TO DESIGNATED AGENCY A designated agent is a real estate licensee who has been appointed by a broker or salesperson to represent a buyer as a “designated buyer’s agent” or to represent a seller as a “designated seller’s agent.” When a buyer or seller consents to designated agency only that designated agent represents the buyer or seller. Any other agents affiliated with BROKER may represent another party to the transaction and by consenting to designated agency the buyer or seller permits those agents to represent another party. Individuals who are designated agents owe fiduciary duties to their respective clients.

You are further advised that: (a) the designated buyer’s agent will represent the BUYER and will owe the BUYER the duties of loyalty, full disclosure, confidentiality, to account for funds, reasonable care and obedience to lawful instruction; (b) all other licensees affiliated with the appointing BROKER will not represent the BUYER nor will they owe the other duties specified in paragraph (a) to that BUYER, and may potentially represent the seller; and (c) if designated agents affiliated with the same broker represent the seller and buyer in a transaction, the appointing broker shall be a dual agent and neutral as to any conflicting interests of the seller and buyer, but will continue to owe the seller and buyer the duties of confidentiality of material information and to account for funds. By signing this agr .

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is authorized to represent me as a Designated Agent. I hereby consent to designated agency.

If designated agency occurs in a transaction, a notice of designated agency will be given.

7. DISCLAIMER Gibson SIR is being retained solely as a real estate broker and not as an attorney, lender, appraiser, surveyor, structural engineer, home inspector or other professional service provider. At the Buyer’s request, the Buyer’s Agent may refer the Buyer to such professionals. It is advised for the Buyer to contact Building Departments to inquire about potential open building permits and you are encouraged to speak with people in the Town or City Hall about other questions you may have about 2

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the community. The Buyer’s Agent may work with other buyers during the Term of this Agreement and will treat all buyer information as confidential. . EQUAL OPPORTUNITY The parties hereto agree to abide by all applicable fair-housing laws. . MODIFICATION OF THIS AGREEMENT Any modification of this Agreement must be in writing, signed and dated by all parties. This Agreement constitutes the entire agreement between the parties and is a contract subject to Massachusetts law. Any prior agreements, whether oral or written, have been merged and incorporated into this Agreement.

1 . SELLER/LISTING BROKER TREATMENT OF OFFERS Buyer acknowledges being advised that Massachusetts law does not require the Seller or Listing Broker to treat the existence of offers, price terms or other conditions as confidential.

11. DISPUTES In the event that Buyer and Gibson SIR shall, for any reason, be unable to resolve a dispute arising from any of the terms of this Agreement, then either party may submit the matter to binding arbitration for the purpose of resolving the dispute.

12. OTHER PROVISIONS: ____________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ This Agreement constitutes a binding Massachusetts Contract. Buyer acknowledges GIBSON SIR’s advice to seek legal counsel relating to any provision of this Agreement if not understood and acknowledges receipt of (a) a copy of this Agreement, (b) a copy of the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure Form, and (c) a brochure entitled “Home Inspector Facts For Consumers.”

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Buyer

Broker of Record, Laurence Rideout

Date

______________________________________ Buyer

Date BROKER/SALESPERSON ACKNOWLEDGMENT OF DESIGNATED AGENCY

I acknowledge and agree to represent the above named consumer as a designated agent and my signature below signifies that I understand the duties and responsibilities of that relationship, and explained to the consumer that I am their agent, together with any other licensees expressly appointed as their designated agent; and that the appointing broker may become a "dual agent;" and that no one else affiliated with my firm represents them.

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CONSENT TO DUAL AGENCY To Be Used if the Buyer is agreeing to the Buyer’s Agent acting as a Dual Agent Buyer understands and consents that the Broker may work as a Designated Seller’s Agent with a Seller client of the Broker and may therefore have to act as an individual Disclosed Dual Agent in a situation where they simultaneously represent the Buyer and Seller in the same transaction. Dual Agency is the result.

A real estate broker or salesperson may act as a dual agent who represents both prospective buyer and seller with their informed written consent. A dual agent is authorized to assist the buyer and seller in a transaction, but shall be neutral with regard to any conflicting interest of the buyer and seller.

Consequently, a dual agent will not have the ability to satisfy fully the duties of loyalty, full disclosure, reasonable care and obedience to lawful instructions, but shall still owe the duty of confidentiality of material information and the duty to account for funds.

Buyers and sellers should understand that material information received from either client that is confidential may not be disclosed by a dual agent, except: (1) if disclosure is expressly authorized; (2) if such disclosure is required by law; (3) if such disclosure is intended to prevent illegal conduct; or (4) if such disclosure is necessary to prosecute a claim against a person represented or to defend a claim against the broker or salesperson. This duty of confidentiality shall continue after termination of the brokerage relationship.

The Simonian Team I acknowledge and agree that ____________________________________[insert name of licensee & license #] is (are) authorized to represent both the buyer and Seller as a Dual Agent. I hereby consent to dual agency. In the event dual agency occurs, written notice to both the Seller and the Buyer.

BROKER/SALESPERSON ACKNOWLEDGMENT REGARDING DUAL AGENCY I acknowledge and agree to represent the above named consumer as a dual agent and my signature below signifies that I understand the duties and responsibilities of that relationship, and explained to the consumer that I am a dual agent and therefore will assist the buyer and the seller in the transaction, but shall be neutral with regard to any conflicting interest of the buyer and seller. In the event dual agency occurs, that I represent the buyer and the seller in the same transaction, I shall give notice to the buyer in compliance with the applicable licensing law.

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07/31/24 © Gibson Sotheby’s International Realty ● Each office is independently owned and operated