2024 Buyer Presentation | Sheryl Simon

NavigatingtheHome PurchaseProcess

ExceptionalService fromStart toClose

Our commitment has always been to curate an exceptional experience for our clients ? one that is characterized by excellence, integrity, and professionalism Whether you are embarking on your first home purchase, transitioning from another region or country, exploring real estate options, or seeking out-of-state opportunities, it is essential to align yourself with experts Our team of experienced Real Estate Agents understands your unique requirements. We possess an in-depth grasp of our local markets, fortified by an extensive global network, and are committed to providing our clients with comprehensive advice and strategy Gibson Sotheby's International Realty has prepared this Buyer Guide to provide you with a keen understanding of the crucial components and choices available to buyers during the purchasing process Our purpose is to inform and guide you through each phase of this journey.

SherylSimon

Sheryl Simon has been one of the most successful luxury residential real estate professionals in Massachusetts since 1991. Sheryl currently serves as a Senior Vice President for Gibson Sotheby?s International Realty, Boston?s largest independently-owned luxury real estate company She regularly serves clientele via increased market share in the residential luxury, new construction, and land development sectors throughout the MetroWest region.

Prior to joining Gibson Sotheby?s International Realty, Sheryl founded Benoit Mizner Simon & Company in 2010, along with Principals Debi Benoit and Amy Mizner The firm specialized in luxury properties across Weston, Wellesley, Wayland, Dover, Natick, Sudbury, and beyond She and her partner Amy Mizner maintained their status as a #1team in Weston and Massachusetts in single-family sales from 1994 ? 2019. During Sheryl?s decade-long tenure at BMS, the company achieved more than $4 billion in sales revenue Earlier in her storied career, Sheryl was an award-winning Vice President at Coldwell Banker for 16 years. During that time she and her partner, Amy Mizner, became the #1Weston sales team.

Sheryl has been recognized in numerous articles such as Wall Street Journal, Top Agent Magazine, Boston Business Journal, Boston Agent magazine, Boston Common magazine, and Boston Globe Magazine?s ?Top 100 Women Led Businesses in MA?She is quoted in the recent publication of ?#501 ways to Roll Out the Red Carpet for your Customers?by Donna Cutting In 2017, Sheryl received the prestigious Banker & Tradesman ?Women of Fire?award, which recognizes the top 20 women leaders in Finance, Insurance, & Real Estate

Sheryl is completely committed to providing the highest standard of personalized service. She possesses an impressive level of in-depth market knowledge that has led to record-breaking sales over many years. Her proven abilities in skilled negotiation, superior client service, on-target property positioning and pricing, and smooth, efficient real estate transactions have earned her a sterling reputation among buyers and sellers, making client referrals the cornerstone of her business

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Thereviewsspeakfor themselves

JBG

"RegardingSheryl Simon,thereisn? t afiner realtor intheBostonarea. Professional andpersonable,knowledgeableandcalm- sheisexactlywhat oneneedswhensellingor buyinganew home. I recommendher without reservation,asher yearsintheindustryareconsistentlyandunwaveringly demonstrated. Shegoesaboveandbeyondat everyturnandradiates confidenceandserenity,both,at thesametime.If youarelookingfor a realtor,Sotheby?sisyour agencyandSheryl Simon,theonlypersonyou will ever need.Muchthanksfromaveryappreciativeclient/friend!"

MIKE & JULIE

MIKE & RACHAEL

?I want tosayaheartfelt thank youfor everythingyou?vedonefor our family aswesearchedfor our new home.You havebeennothingshort of amazing throughout our journey.Trulygreat at what youdo.?

"Thisisour secondreal estate transactionwithSheryl Simon, amongst additional real estate transactionsfor our wider familyover thecourseof 25+years.Sheissimply thebest intheBostonMetroarea.A deepunderstandingof local property valuescombinedwithasuperior network,makefor awell informedand effectivepurchaseor sale- Wehave doneboth.Wewholeheartedly recommendSheryl asoneof our most trustedadvisors Havingarelationship withagreat real estateagent/ teamis criticallyimportant tousandthisteam hasmorethandeliveredonmultiple occasions."

NavigatingtheHome PurchaseProcess

YourTrustedReal EstateAgent

Buying a home is typically one of the largest investments you will make and will have a lasting impact for years to come Our team of trusted Real Estate Agents will expertly guide you through the many intricacies of buying a home and help you to avoid costly mistakes

Leverage t he Sot heby's Int ernat ional Realt y®Brand

Sotheby's International Realty® is a globally recognized brand that lends credibility to your offers and elevates your representation Our success is defined by our deep commitment to our clients This trust has been built over 270 years of Sotheby's selling their clients' most valuable treasures.

Navigat ing t he Home Purchase Process

Having an experienced professional in your corner offers a competitive advantage when searching for your home and accessing local resources.A Real Estate Agent?s broad perspective can provide a stabilizing force to assist you through what can be a challenging, but ultimately rewarding,process.

BenefitsofExclusive BuyerRepresentation

Your Gibson Sotheby's International Realty Agent will prepare a contract outlining our services so we can commit to assisting you with your home purchase transaction As your exclusive buyer representative, we will guide you through the home purchase experience from start to close Below is an overview of how we demonstrate value and contribute to a successful purchase

- Provide an overview of the current market dynamics and challenges

- Create a purchase strategy

- Assist with procuring financing by referring you to lenders with a successful track record

- Evaluate purchase price range

- Set up listing alerts with MLS or RealScout

- Schedule property tours,both privately and open houses

- Provide access to Off-Market,Coming Soon and Office Exclusives,as available

- Review disclosures and reports on selected homes

- Evaluate and negotiate the offer

- Recommend vendors for inspections In Massachusetts, a Real Estate Agent can only provide a licensed home inspector referral if the agent exclusively represents the Buyer

- Recommend a Closing Attorney

What toExpect onYour InitialConsultation

An initial meeting is important to understand your home-buying needs and to develop a strategy to help you successfully make a purchase

Underst anding your real est at e goals

- Purchase time frame

- Past experience with real estate purchasing

- Risk tolerance

- Financing and stage of pre-approval,if a loan is needed

Refining propert y search crit eria

- Location and neighborhood

- Price range

- Size of home, style,amenities

- Specific requirements and non-negotiables

- Condition of home and flexibility to make improvements

- School districts,commute,neighborhood amenities and distances to such amenities

First Stepstoa SuccessfulPurchase

Each home buying journey is unique, just like our clients. The following is a list of some of the items our Real Estate Agents can assist you with that may be part of your home purchase process

Financing Assist ance

Financing and good lender relationships are important Our Agents can:

- Provide a list of Lenders who can pre-approve you and confirm the purchase price range

- Suggest that you obtain loan pre-approval subject to the property selection

- Collaborate with Lender on any Bridge Loan so you can buy before you sell

- Provide any requested contract documentation

- Show the property to the Appraiser and provide supporting comparable sales information

PropertySearch

Our Real Estate Agents view properties regularly, follow local market dynamics and are here to guide you in finding the right home Your Agent can:

- Set up automated listing alerts that meet your search criteria

- Present Off-Market or Pre-Market listings as they arise

- Communicate with Listing Agents to schedule and set up private showings

- Map out and tour properties together

- Recommend properties that are available to view at open houses

- Provide monthly Market Reports

- Review the pros and cons of each home after viewing

PropertyEvaluation

Your Agent can help you assess how your selected property compares to others on the market and to homes recently sold One benefit of having a trusted Real Estate Agent is their familiarity with required disclosures, recommendations for inspectors and experience with reviewing reports.

- Your Agent will request the Disclosure Package,if any,and other necessary information from the Listing Agent

- Discuss with your Agent any additional inspections or reports and determine the time frame for needed contingencies

- If the home is in an HOA, and the Seller has not provided the HOA documents,your Agent can explain the typical timing of the process to receive and review the documents

- Recommend a Closing Attorney experienced in real estate transactions and Title issues

WritingaCompetitiveOffer

When you locate a property that meets your needs, your Agent will provide a market analysis and strategy to assist you in determining an offer price and terms, and then negotiate on your behalf.

- Communicate with the Listing Agent to get the best information possible about competing offers and Sellers' preferences regarding terms and the timeline for offer submission

- Review comparable sales and discuss the price and terms that can best position your offer

- Prepare a compelling offer with the relevant addenda and disclosures,and submit the loan approval letter and proof of funds with the offer

- Get signatures and initials on all offer documents to provide a complete offer

Present ing your offer

Representing you in the best light can be helpful in securing the home you desire.What may not be evident at the outset is the value of having a Gibson Sotheby's International Realty Agent with a trusted brand and excellent reputation in the eyes of other agents ? who are often a key factor in helping their clients assess competing offers.

- Present the offer in a timely manner

- Maintain communications and forward any counteroffers for review

- Negotiate on your behalf and write any addenda or subsequent counter-offers

AcceptedOffer

Once an offer is accepted and necessary measures such as a home inspection are accomplished, both the Buyer and Seller will need to sign a more detailed contract, known as the Purchase and Sale Agreement. Massachusetts has a two-contract process: an offer with basic terms, followed by a Purchase and Sale agreement between the Buyer and Seller and negotiated between attorneys

Massachusetts is not a Seller Disclosure state, meaning it is not a legal requirement to provide a disclosure form to any prospective buyer. Your Attorney will negotiate a detailed agreement that is designed to protect you and outlines all terms of the agreement The Buyer?s attorney may seek representations from the Seller regarding the property, its condition, whether claims are pending against the property, and if so, how potential issues will be resolved, and which party bears the risk

A well negotiated Purchase and Sale Agreement protects all parties and addresses challenges that may arise leading up until closing

HomeInspectionsand OtherContingencies

There may be numerous contingencies associated with your contract, including a home inspection In Massachusetts, only an exclusive Buyer?s Agent can recommend a Home Inspector.Your Agent will assist you in navigating this process.

- Your Agent can help you locate a Home Inspector,plus arrange any additional inspections if needed

- Coordinate and schedule the home inspection

- Attend the home inspection

- Forward and review the Inspection Report with you

- Assist you in negotiating repairs or credits

- If appropriate,assist with conveying termination of the offer based on home inspection issues to protect your deposit

- Communicate with your Lender as requested

- Assist the Appraiser with access to the home and provide comparables,as needed

- Provide resources for Homeowners Insurance

- Guide you through any remaining contingencies

TheClosingProcess

Congratulations on your home purchase!

- Your Agent can recommend movers, interior designers,landscapers, general contractors,gardeners, cleaning services,and home maintenance services

- Arrange for a final walk-through of the property

- Provide resources for a Home Warranty Policy

- Accompany you to the settlement

- Upon recording title,provide keys

UnderstandingBuyer Representation

Gibson Sotheby's International Realty agents will provide you with a Buyer Agency Agreement that will explain in detail the role of your Buyer Agent. A Buyer Agency Agreement will be signed by the purchaser and the Broker in order for the Agent to represent the purchaser on the buyer-side of a transaction A Buyer Agent represents only the Buyer and promotes and protects their best interests throughout the transaction,keeping all information confidential.

Once an agreement is signed, the Buyer Agent owes a fiduciary duty to represent the best interests of the Buyer throughout the purchase process; including obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care In rare circumstances, Dual Agency occurs, meaning your Buyer Agent may have a pre-existing relationship with a Seller. That being said, both the Buyer and Seller must consent and provide written authority for the Agent to engage in Dual Agency This process will be explained to you further in your initial Buyer Consultation.

About Brokerage Compensation

Similar to a Listing Agreement, Buyers execute an Agency Agreement for professional services and representation between themselves and Gibson Sotheby's International Realty This confirms the compensation for the Buyer's Agent and Brokerage It should be noted that the amount a brokerage charges is not fixed by law, the commission amount is negotiable, and brokerages may set minimum compensation

HowareCommissionsPaid?

Seller Paid Brokerage Commission

Buyer Paid Brokerage Commission

When listing a property for sale, Sellers enter into a Listing Agreement and agree to pay a commission to the Listing Broker. In some cases, the Seller may also offer a commission to be paid to the Broker representing the Buyer In circumstances where the Seller does not agree to compensate a Buyer?s Agent, Buyers may request in the written offer that Sellers pay some or all of the Buyer Broker's commission This allows the commission to be incorporated into the final sale price The Seller can write off the commission and the Buyer does not need to pay the commission with additional funds at closing Instead,the commission will be paid from the Seller's proceeds

Buyer's Agents can search for properties not listed in the MLS, including For Sale By Owner, Off-Market Listings, and Office Exclusives. The Buyer Agency Agreement specifies the commission for Buyer representation and allows Agents to represent Buyers even when no cooperative compensation commission is offered. If the offer of compensation offered is less than the agreed upon amount in the Buyer Agency agreement, the Buyer will cover the difference at settlement. However, the Buyer can avoid this by making it a condition that the Seller pay the commission if they accept the offer

GlossaryofTerms

Adjust able-Rat e Mort gage (ARM)

Also called a Variable-Rate Mortgage, an ARM is a home loan with an interest rate that adjusts over time based on the market.

Amort izat ion

The length of time it takes to pay off a mortgage in full The amortization is an estimate based on the interest rate for your current term

Annual Percent age Rat e (APR)

The cost to borrow money as a yearly percentage. It's a more complete measure of a loan's cost than the interest rate alone It includes the interest rate plus discount points and other fees

Appraisal

An unbiased professional opinion of a home's value by a licensed appraiser needed to secure a loan. The appraisal will be ordered by your Lender and is typically paid for by the Buyer.

Assessed Value

The dollar value assigned to a property by an assessor for tax calculation purposes It may differ from the appraised value and/or market value

Cert ificat e of Tit le

Legal document issued by a government agency that indicates proof of ownership of property

Closing

The point at which the deed to a property is legally transferred from the seller to the buyer and all documents are recorded. Also known as Settlement

Closing At t orney

In Massachusetts, real estate closings are considered the practice of law, so there will be an attorney overseeing the closing transaction and reviewing title and clearing title issues The Closing Attorney will also be an agent of a Title Company and be able to issue a Title Insurance Policy for the benefit of the Buyer and the Lender

Closing Cost s

The expenses over and above the property's price that Buyers and Sellers incur to complete a real estate transaction These costs may include loan origination fees, discount points, appraisal fees, title searches, title insurance, surveys, taxes, deed recording fees,attorney fees,etc.

Closing / Set t lement St at ement

A document confirming the purchase price and summarizing all of the closing costs and credits due to and from the Buyer and Seller

Commit ment

An agreement to loan a specified amount to a purchaser

Comparat ive Market Analysis (CMA)

An assessment of the attributes and selling prices of comparable properties recently sold or on the market used to determine current market value

Cont ingency

Any requirements in a contract which must be completed before the contract can be considered ready for performance

Deed

A deed is a tangible document signed by the seller, or grantor, of a property. It confirms transfer of ownership from one party to another

Discount Point s

Also called mortgage points or simply points, discount points are a form of prepaid interest One point equals one percent of the loan amount.

Earnest Money

A sum of money given to bind an agreement or an offer made to show good faith

Equit y

The difference between what you owe on your mortgage and what your home is currently worth

Escalat ion Clause

A special provision in a purchase offer that states that a prospective buyer is willing to raise their offer on a home should the seller receive a higher competing offer until it reaches the maximum price the buyer is willing to pay for the home

Escrow

A neutral third party holding assets or funds before they are transferred from one party in a transaction to another

Fixed-Rat e Mort gage

Interest rate and monthly payments remain the same for the entire term of the loan

Homeowners Associat ion (HOA) Fee

A monthly fee the homeowner is responsible for HOA fees typically cover the costs of maintaining common areas, such as lobbies, elevators, landscaping, and amenities, and common utilities, such as water/sewer, garbage disposal, master insurance and property management

Int erest

The cost of borrowing money expressed by a percentage rate

Lien

A security claim placed on a property until a debt is satisfied

Market Value

The price a property should bring based on comparable sales, economic conditions and market trends

Mort gage

A type of loan used to purchase property. The borrower agrees to pay the lender over time, typically in a series of regular payments that are divided into principal and interest. The property then serves as collateral to secure the loan.

Mult iple List ing Service (MLS)

A Multiple Listing Service (MLS) is a database established by cooperating real estate brokers to provide data about properties for sale. An MLS allows brokers to see one another?s listings of properties for sale with the goal of connecting homebuyers to sellers Below are statuses you will see within MLS updates:

New / Act ive

The property is either newly listed or active on the market

Cont ingent (CTG)

The property has an accepted offer Typically, the property is still available to be seen for potential backup offers

Under Agreement (UAG)

A purchase and sale agreement has been signed The buyer is moving forward with the purchase

Back on Market (BOM)

The property is available for sale again after a prior offer or contract fell through

Principle

The outstanding balance of your mortgage

Privat e Mort gage Insurance (PMI)

An insurance premium charged by a Lender to Buyers with less than 20% down payment. PMI insures the Lender in the event that the Buyer should default on the loan.

Purchase and Sale Agreement (P&S)

The Purchase and Sale Agreement is the contract between the Buyer and Seller of real estate It sets out the obligations of each party from the time the property is taken off the market to the closing

Tit le

Title denotes ownership rights: It is the bundle of rights that dictates who has legal or equitable interest in the property It also details the limitations on ownership.

Tit le Insurance

An insurance policy that protects against any errors or claims that may arise about ownership.

Tit le Search

An examination of public records to confirm that the Seller owns the property and it is free from unsettled items,claims or liens