Home Buying Workbook Meg : simplebooklet.com

Text me, your buyer’s agent: the agent you are working with to find your home. It’s best that youwork with one real estate agent throughout your search. That agent learns what you like anddislike and will invest a lot of time vetting properties for you. That person also represents yourbest interests only. When you call the agent advertising the home, you are dealing with theseller’s agent, so, while they can assist you, they are also representing the seller’s best interest.WHAT SHOULD I DO WHEN I SEE A HOUSE ONLINE THAT I LIKE?CAN YOU SHOW ME A HOUSE IF IT'S NOT YOUR LISTING?Absolutely. As a buyer’s agent, I can show you any house listed in our MLS system, and I willcontact FSBO sellers on your behalf. As mentioned above, working with me as your buyer’s agentensures that your best interests are protected.HOW DO WE WRITE AN OFFER?When you find the property you want to make an offer on, I will run a Comparative MarketAnalysis (CMA) to help you determine a fair offer amount. I will also guide you through theadditional terms of the contract, such as the escrow amount, closing date, and any additionalterms you want to be added to the offer. I will write the offer on a contract form and submit it tothe seller’s agent.If a seller receives multiple offers on their home, usually their agent will inform the buyer’s thatmultiple offers have been received and the buyers have another opportunity to alter theiroriginal offer to present their “highest and best” offer. Keep in mind that many factors mayinfluence the seller in addition to the offer price, such as the down payment amount, closingdate, and inspection terms.WHAT HAPPENS IF THERE ARE OTHER OFFERS ON THE HOUSE I LOVE?WHAT IF I WANT TO BACK OUT OF A CONTRACT?You always have the right to back out of the purchase within 10 days as long as we have aninspection contingency. When the contract is contingent on a property inspection, you usuallyhave the right to cancel for any reason during the inspection period. Once the inspection periodhas passed, you cannot back out and keep your deposit unless the seller agrees, or an additionalterm has not been met.Once both parties have agreed on all terms and signed the contract, your escrow deposit mustbe made and I schedule the home inspection. Your lender will receive a copy of the contractand will begin processing your mortgage application.WHAT HAPPENS WHEN MY OFFER GETS ACCEPTED?The Home SearchFIR S T TIME HOM E B UYER FAQ

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FIR S T TIME HOM E B UYER FAQ The Home Loan5% is a good place to start. The average first time buyer puts down 7%. You can work with amortgage lender to play around with numbers and see how your downpayment amount offsetsyour monthly payment, and especially with how PMI works. HOW MUCH DO I NEED TO SAVE UP FOR A DOWN PAYMENT?Contact a mortgage lender to get pre-approval for a loan. The lender will ask you some basicquestions about your income and debts and can tell you what amount you can be approvedfor, and how much your mortgage payments will be.HOW DO I KNOW IF I QUALIFY AND HOW MUCH I CAN AFFORD?Usually, you are asked to provide your last two tax returns to show proof of income. You shouldalso provide recent bank and credit card statements and proof of your current pay. You willalso be asked for your SSN so they can run a credit check.WHAT DOES THE LENDER NEED FROM ME TO GIVE ME A LOAN?While often used interchangeably, these terms don’t mean the same thing. Pre-qualification isan estimate of what you may be approved for based only on the verbal information youprovide. Pre-approval means the lender has verified your income and debt information and runa credit check.WHAT'S THE DIFFERENCE BETWEEN PRE-APPROVED AND PRE-QUALIFIED?Your mortgage lender is the best person to advise you on this question. Their products andqualifications change from time to time, so they would know best what products are availableto meet your needs.HOW DO I KNOW WHICH MORTGAGE OPTION IS RIGHT FOR ME?Yes, absolutely! I have a few that I work with that I can happily refer to you. Just ask and I'llconnect you. You are welcome to use your own if you have someone in mind as well. DO YOU HAVE A MORTGAGE LENDER I CAN TALK TO?About 3-6 months out from when you'd like to move. If that has already passed, no worries!Pre-approvals only take about 2-3 days, you just want to have that pre-approval before youbegin shopping. WHEN SHOULD I GET PRE-APPROVED?

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Under contract means that all parties have agreed on terms, have signed the contract, and thesigned contract has been delivered to both buyer and seller. Payment of the escrow deposit isexpected but is not a requirement to make a binding contract.WHAT DOES "UNDER CONTRACT" MEAN?WHAT IS EMD?The earnest money deposit is money that is offered with an offer, or as soon as an offer isaccepted, to show the seller that you are serious about moving forward with the purchase of thehome. Because you forfeit this deposit if you back out of the purchase for any reason notallowed for in the contract, the larger the escrow deposit, the more seriously your offer is taken.This deposit is part of your downpayment, not in addition to. DO I NEED AN INSPECTION?I always recommend that you have a home inspection done. In the scheme of things, paying afew hundred dollars to have peace of mind that there are no hidden dangers or problems is wellworth the money. If you have gone through the pre-approval process and have been forthcoming with all theinformation requested by your lender, it’s unlikely you will be turned down. Make sure you do notchange jobs, purchase big-ticket items on credit, take out a car or boat loan, or open any othernew credit accounts while your mortgage is being processed. In most cases, your loancontingency will allow you to back out of the home if necessary.WHAT IF MY LOAN DOESN'T GET APPROVED?HOW MUCH ARE INSPECTIONS?The cost of the home inspection depends on the size of the house and additional inspectionsrequested, such as swimming pool, septic tank, termites, insurance four-point (HVAC, plumbing,roof, and electrical,) wind mitigation, and radon. An average home inspection, without additionalinspections, is about $500-$1000.When you have the keys! When you are financing your purchase, it takes about 3-4 weeks foryour loan to be processed. Once the lender gives the all-clear, closing is scheduled. You will signyour loan documents and both parties will sign documents transferring ownership to you. Unlessother arrangements have been agreed upon by both parties, the sellers should have completelyvacated the home when they sign the closing papers. You can have your belongings ready tomove, and a moving company scheduled before you go to closing. WHEN CAN I START MOVING?Under ContractFI RST TIM E H OME BUY ER F AQ

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Under contractPre-Closing ChecklistOrder AppraisalAn appraisal is an estimate of the value of theproperty by a licensed professional appraiser.Once problems are resolved from inspection,the lender will order an appraisal and paid forby you. The appraisal verifies the value of theproperty for the lender and to protect you fromoverpaying. The contract is contingent upon whether the appraisal comes in at or abovethe purchase price. If the appraisal comes back low, it’s back to negotiations!InspectionsObtain home insuranceT H E C LO S IN G T A BL E I S N E AR !H E RE ’ S W HA T ’S NE X T:Obtain MortgageYou have 5 days from the date of contractexecution to begin the mortgage loanapplication. During the 30-45 days beforeclosing, your lender will be finalizing the loan.Title SearchThe title company will conduct a title searchto ensure the property is legitimate and thatthere are no outstanding mortgage liens,judgments, easements, leases, unpaid taxes,or other restrictions that would impact yourownership. Once the title is found to be valid, the titlecompany will issue a title insurance policywhich protects lenders or owners againstclaims or legal fees that may arise overownership of the property. This will beincluded in closing costs.Clear to CloseThe magic words! This phrase means themortgage underwriter has officiallyapproved all documentation required tofund the loan. All that remains is the actualclosing process.B R AV O ! H ER E ’S WH A T Y OU ’ VEC O MP L ET E D S O F AR :TIPIt is very important NOT tomake any major job changes,purchases, or open newcredit cards, as any of theseactivities could alter yourqualifications for a loan.Set up utilites in your name and change address

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The property is actively for sale and on themarket. The sellers may have received offers buthave not accepted any yet.ACTIVEAfter an introductory period that could be 3, 5, 7or 10 years, the interest rate on an adjustable-rate mortgage will be adjusted by the lender bycurrent interest rates.ADJUSTABLE-RATE MORTGAGE (ARM)This property was under contract with anotherbuyer and their contract fell through, so it isactive again. BACK ON MARKETComparative market analysis or competitivemarket analysis. A CMA compares the sales priceof similar properties in the area to helpdetermine the price of a property.CMAThe fees that the buyer and seller will oweassociated with the home-buying process, suchas the real estate brokerage commission and titleinsurance. Most are paid by the buyer, but theseller pays for some.CLOSING COSTSA provision of the contract that keeps theagreement from being fully legally binding until acertain condition is met. For example, thepurchase of a home can be contingent upon thebuyer selling their home first.CONTINGENCYThe sum in cash that you can afford to pay at thetime of purchase. A conventional loan downpayment is usually between 5%-20% of the salesprice, but other types of financing require as little as0%-3.5%. A mortgage lender can tell you whattypes of loans you qualify for.DOWN PAYMENTA listing has expired and is no longer active, usuallybecause it didn’t sell in the amount of time agreedupon by the listing agent and the owner of thehome. If you see an Expired listing, the owner maystill be interested in selling.EXPIREDThis mortgage'sinterest ratewill never change, evenif theterm of the loanis 30 years.FIXED-RATE MORTGAGEFor Sale by Owner. Often pronounced "fisbo" Theowner of the home has it listed without an agentrepresentation. A Buyer's agent can usually still showthe home, as many FSBOs will agree to work agentsrepresenting a buyer.FSBOA percentage of the principal that you borrowedfrom the bank. The rate can fluctuate daily. INTERESTThe word “listing” is typically used to refer to thefor-sale home itself, although it technically meansthe agreement between the broker and the ownerof the home to market and sell the property.LISTINGVocab to KnowFI RST TIM E H OME BUY ER F AQ

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The Multiple Listing Service. The MLS is used tosearch for and list properties. They collect, compileand distribute all information about homes listed forsale. Membership isn’t open to the general public,although selected MLS data may be sold to realestate listing websites.MLSThe property owner has accepted an offer and areunder contract with a buyer. Their agreement maybe contingent upon a variety of contingencies:inspections, appraisal, financing, and more. Thehome is not sold just yet.PENDINGAfter you make a down payment, the rest of themoney you owe on your home is called theprincipal. This is what you will be paying monthlyand paying interest on.PRINCIPALThe owner has decided to take the listing off themarket for an undetermined amount of time.Typically this is because work is being done, or thehome is unavailable for showings at the time. It willmost likely be back on the market soon.TEMPORARILY OFF THE MARKET (TOM)An insurance policy that protects a mortgagelender’s or owner’s interest in real property fromassorted types of fraudulent claims of ownership.TITLE INSURANCEThe listing was withdrawn from the market. Thiscould be for various reasons: The owners may havedecided they do not want to sell anymore, or maybethey didn't like the offers they received. If you lovethe listing, we can still reach out and try.WITHDRAWNVocab to KnowFI RST TIM E H OME BUY ER F AQ

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EXCLUSIVE BUYER AGENCY CONTRACT BACThis form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of Realtors® (PAR).®rev. 8/24; rel. 8/24 2. BROKER’S FEE (8-24) No law or Association of REALTORS® has set or recommended Broker’s fee. Broker will not retain any amount greater than the Broker’s Fee agreed to in Paragraph 2(B), regardless of the source.Broker/Licensee Initials:__________Buyer Initials:__________ BAC Page 1 of 4 BUYERBUYER’S MAILING ADDRESSPHONE CELLE-MAIL FAX Buyer understands that this Exclusive Buyer Agency Contract is between Broker and Buyer. Does Buyer have a written agreement, such as a buyer agency contract, with another Broker? Yes No If yes, explain: _____________________________________________________________________________________________1. STARTING & ENDING DATES OF BUYER AGENCY CONTRACT (ALSO CALLED “TERM”) (8-24) No law or Association of REALTORS® has set or recommended the term of this Contract. This Contract applies to any property that Buyer chooses to purchase during the term of this Contract. Buyer will not enter into a Buyer Agency Contract with another broker/licensee that begins before the Ending Date of this Contract. Starting Date: Ending Date:A buyer agent owes duties of loyalty and confidentiality to a buyer and must act in a buyer’s best interests. If a consumer choosesto purchase property without hiring a buyer agent, that consumer will not have a real estate licensee looking out for their interestsin the transaction.In an exclusive buyer agency contract, you agree that you will work with only one buyer agent for a certain time period and thatyou could owe a broker’s fee to this broker if you purchase a property during the contract time period. Contacting another buyeragent and using their services during the term of this contract could mean that you might owe fees to more than one broker.Do not sign this contract until you have read the entire document and discussed any questions with the agent. If you have furtherquestions about this contract you can also discuss them with the agent’s broker or manager, and if you have legal questions youare advised to consult a Pennsylvania real estate attorney.1Broker (Company) ______________________________________2______________________________________________________3Company License # ______________________________________4Company Address _______________________________________5______________________________________________________6Company Phone ________________________________________7Company Fax __________________________________________ Licensee(s) (Name) ______________________________________________________________________________________State License # ______________________________________Direct Phone(s) ______________________________________Cell Phone(s) ________________________________________Licensee Fax ________________________________________Email ______________________________________________8 _____________________________________________________________________________________________________9 ____________________________________________________________________________________________________________________________________________________________________________________________1011 __________________________________________________________________________________________________________________________________________________________1213 ______________________________________________ ______________________________________________ ______________________________________________(A) Broker/Licensee and Buyer have discussed and agreed upon the length or term of this Contract. (B) This Contract starts when signed by Buyer and Broker, unless otherwise stated here: ______________________ This Contract ends at 11:59 PM on ___________________, or before if Buyer and Broker agree. The Ending Date of this Contract may not be extended without the written consent of Buyer.(C) If Buyer is negotiating or has entered into an Agreement of Sale, this Contract ends upon settlement.(A) Broker and Buyer have negotiated the fee Broker will receive for exercising professional knowledge and skills in locating and assisting Buyer in the acquisition of realproperty which is available and suitable for Buyer.(B) Broker’s Fee, paid by Buyer to Broker, is as follows: 1. In a purchase transaction:a. with a seller represented by a real estate broker (this Broker or another broker) the fee is _____% of the Purchase Price OR $ , whichever is greater, AND $__________________. b. with a seller who is not represented by a real estate broker the fee is_____% of the Purchase Price OR , whichever is greater, AND $__________________. 2. Advance Fee/Retainer: $___________________ of Broker’s Fee is earned and due (non-refundable) at signing of this Con-tract. This Advance Fee will be credited against any other fees stated in this paragraph unless otherwise stated here: ______ 3. Other: ______________________________________________________________________________________________4. 14151617181920212223242526272829303132333440COPYRIGHT PENNSYLVANIA ASSOCIATION OF REALTORS 2024

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(C) If Buyer leases a property instead of buying a property, Broker’s fee is: _____________________________________________(D) Even though Broker’s Fee, or a portion of it, may be paid by a seller or a listing broker, Broker will continue to represent the interests of Buyer.1. It is Broker’s policy to accept compensation offered by a listing broker, called cooperating compensation. If a listing broker offers cooperating compensation that is less than the Broker’s Fee agreed to in Paragraph 2(B), Buyer may authorize Brokerto negotiate an increase by using a form such as the Cooperating Broker Compensation Agreement (PAR Form CBC). 2. Sellers sometimes offer to make financial concessions towards paying buyer’s costs at settlement, which could include some or all of the Broker’s Fee agreed to in Paragraph 2(B) if it is not paid as cooperating compensation by the listing broker.Buyer can negotiate these seller concessions by including them in an agreement of sale. (E) Buyer understands and agrees that if Broker receives LESS than the Broker’s Fee agreed to in Paragraph 2(B) through any com-bination of cooperating compensation and seller concessions BUYER WILL BE RESPONSIBLE FOR PAYING THE REMAIN-DER OF BROKER’S FEE DUE TO BROKER AT OR BEFORE SETTLEMENT.(F) (G)If Buyer enters into an agreement of sale for a property after the Ending Date of this Contract, Buyer will pay Broker’s Fee if: 1. The agreement of sale is a result of Broker’s actions during the term of this Contract, OR2. The property was seen during the term of this Contract, AND3. Buyer is not under an exclusive buyer agency contract with another broker at the time Buyer enters into an agreement of sale.Buyer agrees that Broker and Broker’s Licensee(s) stated above may also represent the seller(s) of the property Buyer might buy. ABroker is a Dual Agent when a Broker represents both Buyer and a seller in the same transaction. A Licensee is a Dual Agent whena Licensee represents Buyer and a seller in the same transaction. All of Broker’s licensees are also Dual Agents UNLESS there areseparate Designated Agents for Buyer and a seller. If the same Licensee is designated for Buyer and a seller, the Licensee is a DualAgent. Buyer understands that Broker is a Dual Agent when Buyer is viewing properties listed by Broker.Designated Agency is applicable, unless checked below. Broker designates the Licensee(s) stated above to exclusively represent theinterests of Buyer. If Licensee is also the Seller’s Agent, then Licensee is a DUAL AGENT.(A) Broker may not take action that is inconsistent with Buyer’s interests. However, Broker may provide services to a seller for which Broker may accept a fee. Such services may include, but are not limited to, listing property for sale; representing theSeller as Seller Agent; deed/document preparation; ordering certifications required for closing; financial services; title transferand preparation services; ordering insurance, construction, repair, or inspection services. Providing such services is not in itself abreach of Broker’s fiduciary duty to Buyer.(B) Broker/Licensee may show the same properties to other buyers and may represent those buyers in attempts to purchase the same property that Buyer wishes to purchase. Broker does not breach a duty to Buyer by showing a property Buyer is interested in toother prospective buyers.(C) It is a conflict of interest when Broker or Licensee has a financial or personal interest in the property and/or cannot put Buyer’s interests before any other. If Broker, or any of Broker’s licensees, has a conflict of interest, Broker will notify Buyer in a t imelymanner.This Contract is the entire agreement between Broker and Buyer. Any verbal or written agreements that were made before are not apart of this Contract. All changes to this Contract must be in writing and signed by Broker and Buyer.(A) Buyer agrees that Broker may transfer this Contract to another broker when Broker stops doing business, Broker forms a new real estate business, OR Broker joins his business with another.(B) Broker will notify Buyer immediately in writing if Broker transfers this Contract to another broker. Buyer will follow all require-ments of this Contract with the new broker.Unless permitted by Buyer or required by law, Broker will not knowingly reveal or use any confidential information of Buyer. Buyerunderstands that sellers or sellers’ representatives might not treat the existence, terms or conditions of any offer as confidential unlessthere is a confidentiality agreement between Buyer and the seller. This Paragraph will survive the termination or expiration of thisContract.3. DUAL AGENCY 8. CONFIDENTIALITY Buyer Initials:__________ 6. ENTIRE CONTRACT 7. TRANSFER OF THIS CONTRACT4. DESIGNATED AGENCY Designated Agency is not applicable.5. BROKER’S SERVICES TO OTHERS BAC Page 2 of 4 Broker/Licensee Initials:__________The balance of Broker’s Fee is earned if Buyer enters into an agreement of sale during the term of this Contract, whetherbrought about by Broker, Broker’s Licensee(s) or by any other person, including Buyer. If Buyer defaults on the terms ofan agreement of sale, Broker’s Fee will be paid by Buyer to Broker at that time. Buyer is advised that contacting a listingbroker or seller directly may compromise Broker’s ability to earn cooperating compensation from a listing broker andcould result in Buyer’s obligation to pay a fee to Broker. 4142434445464748495051525354555657585960616263646566676869707172737475767778797

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10. DEPOSIT MONEY 11. CIVIL RIGHTS ACTS 13. BUYER INSPECTIONS 14. RECORDINGS ON THE PROPERTY 9. EXPERTISE OF REAL ESTATE AGENTS 12. NOTICE REGARDING CONVICTED SEX OFFENDERS (MEGAN’S LAW) Buyer hereby releases all Brokers, their LICENSEES, employees and any OFFICER or PARTNER of any one of them, andany PERSON, FIRM, or CORPORATION who may be liable through them, from any claims, lawsuits and actions whichmay arise from any audio or video recordings occurring in or around any property considered for purchase by Buyer.Buyer Initials:__________ BAC Page 3 of 4 Broker/Licensee Initials:__________Pennsylvania real estate agents are required to be licensed by the Commonwealth of Pennsylvania and are obligated to disclose ad-verse factors about a property that are reasonably apparent to someone with expertise in the marketing of real property.(A) If Buyer wants information regarding specific conditions or components of a property which are outside Broker’s or Licensee’s area of expertise, Buyer is encouraged to seek the advice of an appropriate professional.(B) If Buyer wants financial, legal, or any other advice, Buyer is encouraged to seek the services of an accountant, lawyer, or other appropriate professional.(A) Broker will keep (or will give to the listing broker, who will keep) all deposit monies that Broker/Licensee receivesin an escrow account as required by the real estate licensing laws and regulations until the sale is completed or anagreement of sale is ter- minated, or the terms of a prior written agreement between the Buyer and a seller havebeen met. Buyer and Seller may name a non-licensee as the escrow holder, in which case the escrow holder will bebound by the terms of the escrow agreement, not by the Real Estate Licensing and Registration Act. Buyer agreesthat the person keeping the deposit monies may wait to deposit any uncashed check that is provided as depositmoney until Seller has accepted an offer.(B) Regardless of the apparent entitlement to deposit monies, Pennsylvania law does not allow a Broker holding deposit monies to determine who is entitled to the deposit monies when settlement does not occur. Broker can only release the deposit monies:1. If an agreement of sale is terminated prior to settlement and there is no dispute over entitlement to the deposit monies. A written agreement signed by both parties is evidence that there is no dispute regarding deposit monies. 2. If, after Broker has received deposit monies, Broker receives a written agreement that is signed by Buyer and Seller, directing Broker how to distribute some or all of the deposit monies. 3. According to the terms of a final order of court.4. According to the terms of a prior written agreement between Buyer and Seller that directs the Broker how to distribute the deposit monies if there is a dispute between the parties that is not resolved.(C) Buyer agrees that if Buyer names Broker or Broker’s licensee(s) in litigation regarding deposit monies, the attorneys’ fees and costs of the Broker(s) and licensee(s) will be paid by Buyer.Federal and state laws make it illegal for a seller, broker, or anyone to use RACE, COLOR, RELIGION or RELIGIOUSCREED, SEX, DISABILITY (physical or mental), FAMILIAL STATUS (children under 18 years of age), AGE (40 or older),NATIONAL ORIGIN, USE OR HANDLING/TRAINING OF SUPPORT OR GUIDE ANIMALS, or the FACT OF RELATIONSHIPOR ASSO- CIATION TO AN INDIVIDUAL KNOWN TO HAVE A DISABILITY as reasons for refusing to sell, show, or rentproperties, loan money, or set deposit amounts, or as reasons for any decision relating to the sale or rental ofproperty. The Pennsylvania General Assembly has passed legislation (often referred to as “Megan’s Law,” 42 Pa.C.S. §9791 et seq.) providingfor community notification of certain convicted sex offenders. Buyers are encouraged to contact the municipal police department orthe Pennsylvania State Police for information relating to the presence of sex offenders near a particular property, or to check the infor-mation on the Pennsylvania State Police Web site at www.pameganslaw.state.pa.us.(A) Unless Buyer and a seller agree otherwise, real estate is sold IN ITS PRESENT CONDITION. It is Buyer’s responsibility to determine whether the condition of the property is satisfactory. Buyer is advised to carry out an inspection, at Buyer’s expense,by qualified professionals to determine the condition of the structure or its components. Areas of concern may include, but arenot limited to: electrical; plumbing; heating, ventilating and air conditioning; appliances and fixtures; water infiltration; base-ment; roof; property boundaries; asbestos, mold and indoor air quality, carbon monoxide, radon, and environmental hazards orsubstances; wood-destroying insect infestation; on-site water service and/or sewage system; property insurance; deeds, restric-tions and zoning; and lead-based paint. Buyer should discuss inspections and any special needs with Licensee. (B) Buyer is advised that information regarding properties considered for purchase by Buyer has been provided by a seller or a sell-er’s broker. Such information may include, but is not limited to, the information on the Seller’s Property Disclosure Statement,including environmental conditions; MLS information, including information regarding restrictions, taxes, assessments, associa-tion fees, zoning restrictions, dimensions, boundaries (if identified); and marketing information. Unless otherwise noted, Brokerhas not verified the accuracy of this information, and Buyer is advised to investigate its accuracy.(A) Any person who intentionally intercepts oral communications by electronic or other means without the consent of all parties is guilty of a felony under Pennyslvania law. Buyers should not make recordings on the property that capture the oral statements ofother persons without having the full consent of all persons who are parties to the communication.(B) Buyer should be aware that a seller’s property may contain smart home technologies or devices, which may record or allow for remote monitoring of the seller’s property, including broadcasting or recording video and audio. Buyer should be aware that anydiscussions, including discussions of negotiation strategies, held on the property may not be confidential.(C) 9899100101102103104105106107108109110111112113114115116117118119120121122123124125126127128129130131132133134135136137138139140141142143144145146147148149150151152153154155156157

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15. RECOVERY FUND 16. SPECIAL CLAUSES (A) The following are part of this Contract if checked: Single Agency Addendum (PAR Form SA)(B) Additional Terms:BAC Page 4 of 4Buyer has read and received the Consumer Notice as adopted by the State Real Estate Commission at 49 Pa. Code §35.336. Buyer has read the entire Contract before signing. Buyer must sign this Contract.If Buyer is obtaining mortgage financing, Buyer shall promptly deliver to Broker a copy of all Loan Estimate(s) and Closing Disclosure(s) upon receipt. Buyer gives permission for Broker to send information about this transaction to Buyer’s fax number(s) and/or e-mail address(es) listed.Return of this Contract, and any addenda and amendments, including return by electronic transmission, bearing the signatures of all parties, constitutes acceptance by the parties. This Contract may be executed in one or more counterparts, each of which shall be deemed to be an original and which counter-parts together shall constitute one and the same Agreement of the Parties.NOTICE BEFORE SIGNING: IF BUYER HAS LEGAL QUESTIONS, BUYER IS ADVISED TO CONSULT A PENNSYLVANIA REAL ESTATE ATTORNEY.BUYER _______________________________________________________________DATE _______________________________BUYER _______________________________________________________________DATE _______________________________BUYER _______________________________________________________________DATE _______________________________BROKER (COMPANY) _______________________________________________________________________________________ ACCEPTED ON BEHALF OF BROKER BY ______________________________________DATE ____________________ ___________________________________________________________________________________________________ Pennsylvania has a Real Estate Recovery Fund (the Fund) to repay any person who has received a final court ruling (civil judgment)against a Pennsylvania real estate licensee because of fraud, misrepresentation, or deceit in a real estate transaction. The Fund repayspersons who have not been able to collect the judgment after trying all lawful ways to do so. For complete details about the Fund, call(717) 783-3658.158159160161162163164165166167168169170171172173174175176177178179180181182183184185186187188189190191192193194195196197

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NON-EXCLUSIVE BUYER AGENCY CONTRACT This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of Realtors® (PAR).2. BROKER’S FEE (8-24) No law or Association of REALTORS® has set or recommended Broker’s fee. NBABuyer Initials:__________ NBA Page 1 of 4 Broker/Licensee Initials:__________A buyer agent owes duties of loyalty and confidentiality to a buyer and must act in a buyer’s best interests. If a consumer choosesto purchase property without hiring a buyer agent, that consumer will not have a real estate licensee looking out for their interestsin the transaction.In a non-exclusive buyer agency contract, you agree that you will work with a specific buyer agent for certain properties, butthat you do not have to work with them (and they do not have to work with you) for every property you may be interestedin. Contact- ing another buyer agent and using their services after you have been introduced to or been shown a propertyunder the terms of this contract could mean that you might owe fees to more than one broker. Do not sign this contract until you have read the entire document and discussed any questions with the agent. If you have furtherquestions about this contract you can also discuss them with the agent’s broker or manager, and if you have legal questions, youare advised to consult a Pennsylvania real estate attorney.BUYER _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________BUYER’S MAILING ADDRESS_____________________________________________________________________________________________________________ _______________________________________________PHONE CELLE-MAIL _______________________________________________ FAX ________________________________________________Does Buyer have a written agreement, such as a buyer agency contract, with another Broker? Yes No If yes, explain: _____________________________________________________________________________________________Buyer understands that this Non-Exclusive Buyer Agency Contract is between Broker and Buyer and that Broker will be Buyer’sAgent for properties introduced or shown to Buyer by Broker under the terms agreed to below.1. STARTING DATE AND TERM OF NON-EXCLUSIVE BUYER AGENCY CONTRACT (8-24) No law or Association of REALTORS® has set or recommended the term of this Contract. ®rev. 8/24; rel. 8/241Broker (Company) ______________________________________2______________________________________________________3Company License # ______________________________________4Company Address _______________________________________5______________________________________________________6Company Phone ________________________________________7Company Fax __________________________________________ Licensee(s) (Name) ______________________________________________________________________________________State License # ______________________________________Direct Phone(s) ______________________________________Cell Phone(s) ________________________________________Licensee Fax ________________________________________Email ______________________________________________ _______________________________________________(A) Broker and Buyer have negotiated the fee Broker will receive for exercising professional knowledge and skills in locating and assisting Buyer in the acquisition of realproperty which is available and suitable for Buyer.(B) Broker’s Fee, paid by Buyer to Broker, is as follows: 1. In a purchase transaction:a. with a seller represented by a real estate broker (this Broker or another broker) the fee is _____% of the Purchase Price OR $ , whichever is greater, AND $__________________. b. with a seller who is not represented by a real estate broker the fee is_____% of the Purchase Price OR $ , whichever is greater, AND $__________________. (A)(B) This Contract starts when signed by Buyer and Broker, unless otherwise stated here:(C) Buyer and Broker agree that this Contract is not time-limited, but applies only to the properties listed below (if any) AND any other properties introduced or shown to Buyer by Broker after the signing of this Contract. _____________________________________________________________________________________________________________________________________ _________________________________________________ _________________________________________________ (D) If Buyer is negotiating or has entered into an Agreement of Sale, this Contract ends upon settlement.89101112131415161718192021222324252627282930313233343536COPYRIGHT PENNSYLVANIA ASSOCIATION OF REALTORS 2024

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2. Advance Fee/Retainer: $___________________ of Broker’s Fee is earned and due (non-refundable) at signing of this Buyer Agency Contract. This Advance Fee will be credited against any other fees stated in this paragraph unless otherwise statedhere: ______________________________________________________________________________________________3. Other: ______________________________________________________________________________________________4. Broker will not retain any amount greater than the Broker’s Fee agreed to in Paragraph 2(B), regardless of the source. (C) If Buyer leases a property instead of buying a property, Broker’s fee is: _____________________________________________(D) Even though Broker’s Fee, or a portion of it, may be paid by a seller or a listing broker, Broker will continue to represent the interests of Buyer.1. It is Broker’s policy to accept compensation offered by a listing broker, called cooperating compensation. If a listing broker offers cooperating compensation that is less than the Broker’s Fee agreed to in Paragraph 2(B), Buyer may authorize Brokerto negotiate an increase by using a form such as the Cooperating Broker Compensation Agreementfi [PAR Form CBC]. 2. Sellers sometimes offer to make financial concessions towards paying buyer’s costs at settlement, which could include some or all of the Broker’s Fee agreed to in Paragraph 2(B) if it is not paid as cooperating compensation by the listing broker. Buy-er can negotiate these seller concessions by including them in an agreement of sale.(E) Buyer understands and agrees that if Broker receives LESS than the Broker’s Fee agreed to in Paragraph 2(B) through any com-bination of cooperating compensation and seller concessions BUYER WILL BE RESPONSIBLE FOR PAYING THE REMAIN-DER OF BROKER’S FEE DUE TO BROKER AT OR BEFORE SETTLEMENT.The balance of Broker’s Fee is earned if Buyer enters into an agreement of sale for any property introduced or shown toBuyer, whether brought about by Broker, Broker’s Licensee(s) or by any other person, (including Buyer or a differentbroker working with Buyer). If Buyer defaults on the terms of an agreement of sale, Broker’s Fee will be paid by Buyer toBroker at that time. Buyer is advised that contacting a listing broker or seller directly may compromise Broker’s abilityto earn cooperating compensation from a listing broker and could result in Buyer’s obligation to pay a fee to Broker.(F) Designated Agency is applicable, unless checked below. Broker designates the Licensee(s) stated above to exclusively represent theinterests of Buyer. If Licensee is also the Seller’s Agent, then Licensee is a DUAL AGENT.This Contract is the entire agreement between Broker and Buyer. Any verbal or written agreements that were made before are not apart of this Contract. All changes to this Contract must be in writing and signed by Broker and Buyer. (A) Buyer agrees that Broker may transfer this Contract to another broker when Broker stops doing business, Broker forms a new real estate business, OR Broker joins his business with another.(B) Broker will notify Buyer immediately in writing if Broker transfers this Contract to another broker. Buyer will follow all require-ments of this Contract with the new broker. Buyer agrees that Broker and Broker’s Licensee(s) stated above may also represent the seller(s) of the property Buyer might buy. ABroker is a Dual Agent when a Broker represents both Buyer and a seller in the same transaction. A Licensee is a Dual Agent when aLicensee represents Buyer and a seller in the same transaction. All of Broker’s licensees are also Dual Agents UNLESS there areseparate Designated Agents for Buyer and a seller. If the same Licensee is designated for Buyer and a seller, the Licensee is a DualAgent. Buyer understands that Broker is a Dual Agent when Buyer is viewing properties listed by Broker. (A) Broker may not take action that is inconsistent with Buyer’s interests. However, Broker may provide services to a seller for whichBroker may accept a fee. Such services may include, but are not limited to, listing property for sale; representing the Seller asSeller Agent; deed/document preparation; ordering certifications required for closing; financial services; title transfer and prepa-ration services; ordering insurance, construction, repair, or inspection services. Providing such services is not in itself a breach ofBroker’s fiduciary duty to Buyer.(B) Broker/Licensee may show the same properties to other buyers and may represent those buyers in attempts to purchase the same property that Buyer wishes to purchase. Broker does not breach a duty to Buyer by showing a property Buyer is interestedin to other prospective buyers.(C) It is a conflict of interest when Broker or Licensee has financial or personal interest in the property and/or cannot put Buyer’s interestbefore any other. If Broker, or any of Broker’s licensees, has a conflict of interest, Broker will notify Buyer in a timely manner.6. ENTIRE CONTRACT 7.TRANSFER OF THIS AGREEMENT4. DESIGNATED AGENCY Designated Agency is not applicable.5. BROKER’S SERVICES TO OTHERS Buyer Initials:__________ NBA Page 2 of 4 Broker/Licensee Initials:__________ 3.DUAL AGENCY 3738394041424344454647484950515253545556575859606162636465666768697071727374757677787980818283848586878889

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10. DEPOSIT MONEY 8. CONFIDENTIALITY 11. CIVIL RIGHTS ACTS 9. EXPERTISE OF REAL ESTATE AGENTS 12. NOTICE REGARDING CONVICTED SEX OFFENDERS (MEGAN’S LAW) 13. BUYER INSPECTIONS Buyer is advised to carry out an inspection for any property Buyer might buy.Buyer Initials:__________ NBA Page 3 of 4 Broker/Licensee Initials:__________(A) Buyer should discuss inspections and any special needs with Licensee. Unless Buyer and the seller agree otherwise, real estate is sold IN ITS PRESENT CONDITION. It isBuyer’s responsibility to determine whether the condition of the property is satisfactory. Buyer may request that the property beinspected, at Buyer’s expense, by qualified professionals to determine the condition of the structure or its components. Areas ofconcern may include, but are not limited to: electrical; plumbing; heating, ventilating and air conditioning; appliances and fix- tures;water infiltration; basement; roof; property boundaries; asbestos, mold and indoor air quality, carbon monoxide, radon, andenvironmental hazards or substances; wood-destroying insect infestation; on-site water service and/or sewage system; propertyinsurance; deeds, restrictions and zoning; and lead-based paint.(B) Buyer is advised that information regarding properties considered for purchase by Buyer has been provided by the seller or seller’s broker. Such information may include, but is not limited to, the information on the Seller’s Property Disclosure Statement, includ- ingenvironmental conditions; MLS information, including information regarding restrictions, taxes, assessments, association fees, zoningrestrictions, dimensions, boundaries (if identified); and marketing information. Unless otherwise noted, Broker has not verified theaccuracy of this information, and Buyer is advised to investigate its accuracy. Federal and state laws make it illegal for a seller, broker, or anyone to use RACE, COLOR, RELIGION or RELIGIOUS CREED, SEX,DISABILITY (physical or mental), FAMILIAL STATUS (children under 18 years of age), AGE (40 or older), NATIONAL ORIGIN, USE ORHANDLING/TRAINING OF SUPPORT OR GUIDE ANIMALS, or the FACT OF RELATIONSHIP OR ASSOCIATION TO AN INDIVIDUAL KNOWNTO HAVE A DISABILITY as reasons for refusing to sell, show, or rent properties, loan money, or set deposit amounts, or as reasons for anydecision relating to the sale or rental of property.Unless permitted by Buyer or required by law, Broker will not knowingly reveal or use any confidential information of Buyer. Buyerunderstands that sellers or sellers’ representatives might not treat the existence, terms or conditions of any offer as confidential unlessthere is a confidentiality agreement betweeen Buyer and the seller. This Paragraph will survive the termination or expiration of thisContract.Pennsylvania Real Estate Agents are required to be licensed by the Commonwealth of Pennsylvania and are obligated to discloseadverse factors about a property that are reasonably apparent to someone with expertise in the marketing of real property.(A) If Buyer wants information regarding specific conditions or components of the property which are outside the Agent’s expertise, the advice of the appropriate professional should be sought.(B) If Buyer wants financial, legal, or any other advice, Buyer is encouraged to seek the services of an accountant, lawyer, or other appropriate professional. The Pennsylvania General Assembly has passed legislation (often reffered to as “Megan’s Law,” 42 Pa. C.S. §9791 et seq.) providing forcommunity notification of certain convicted sex offenders. Buyers are encouraged to contact the municipal police department or thePennsylvania State Police for information relating to the presence of sex offenders near a particular property, or to check the information onthe Pennsylvania State Police Web site at www.pameganslaw.state.pa.us(A) Broker will keep (or will give to the listing broker, who will keep) all deposit monies that Broker/Licensee receives in an escrow accountas required by the real estate licensing laws and regulations until the sale is completed or an agreement of sale is terminated, or the termsof a prior written agreement between the Buyer and a seller have been met. Buyer and Seller may name a non-licensee as the escrowholder, in which case the escrow holder will be bound by the terms of the escrow agreement, not by the Real Estate Licensing andRegistration Act.(B) Regardless of the apparent entitlement to deposit monies, Pennsylvania law does not allow a Broker holding deposit monies to determine who is entitled to the deposit monies when settlement does not occur. Broker can only release the deposit monies:1. If an agreement of sale is terminated prior to settlement and there is no dispute over entitlement to the deposit monies. A written agreement signed by both parties is evidence that there is no dispute regarding deposit monies. 2. If, after Broker has received deposit monies, Broker receives a written agreement that is signed by Buyer and Seller, directing Broker how to distribute some or all of the deposit monies. 3. According to the terms of a final order of court.4. According to the terms of a prior written agreement between Buyer and Seller that directs the Broker how to distribute the deposit monies if there is a dispute between the parties that is not resolved.(C) Buyer agrees that if Buyer names Broker or Broker’s licensee(s) in litigation regarding deposit monies, the attorneys’ fees and costs of the Broker(s) and licensee(s) will be paid by Buyer.9091929394959697989910010110210310410510610710810911011111211311411511611711811912012112212312412512612712812913013113213313413513613713813914014144

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16. ADDITIONAL TERMS 14. RECORDINGS ON THE PROPERTY NBA Page 4 of 4 Buyer hereby releases all brokers, their LICENSEES, employees and any OFFICER or PARTNER of any one of them,and any PERSON, FIRM or CORPORATION who may be liable through them, from any claims, lawsuits and actionswhich may arise from any audio or video recordings occurring in or around any property considered for purchaseby Buyer.15. RECOVERY FUND Buyer has read and received the Consumer Notice as adopted by the State Real Estate Commission at 49 Pa. Code §35.336. If Buyer is obtaining mortgage financing, Buyer shall promptly deliver to Broker a copy of all Loan Estimate(s) and Closing Disclosure(s) upon receipt. Buyer gives permission for Broker to send information about this transaction to Buyer’s fax number(s) and/or e-mail address(es) listed.Return of this Agreement, and any addenda and amendments, including return by electronic transmission, bearing the signatures of all parties, constitutes acceptance by the parties. This Contract may be executed in one or more counterparts, each of which shall be deemed to be an original and which counter-parts together shall constitute one and the same Agreement of the Parties.NOTICE BEFORE SIGNING: IF BUYER HAS LEGAL QUESTIONS, BUYER IS ADVISED TO CONSULT A PENNSYLVANIA REAL ESTATE ATTORNEY.BUYER _____________________________________________________________ DATE __________________________________BUYER _____________________________________________________________ DATE __________________________________BUYER _____________________________________________________________ DATE __________________________________BROKER (Company Name) _____________________________________________________________________________________ACCEPTED ON BEHALF OF BROKER BY __________________________________ DATE ________________________ Pennsylvania has a Real Estate Recovery Fund (the Fund) to repay any person who has received a final court ruling (civil judgment) againsta Pennsylvania real estate licensee because of fraud, misrepresentation, or deceit in a real estate transaction. The Fund repays personswho have not been able to collect the judgment after trying all lawful ways to do so. For complete details about the Fund, call (717) 783-3658.(A) Any person who intentionally intercepts oral communications by electronic or other means without the consent of all parties isguilty of a felony under Pennsylvania law. Buyers should not make recordings on the property that capture the oral statements of otherpersons without having the full consent of all persons who are parties to the communication.(B) Buyer should be aware that a seller’s property may contain smart home technologies or devices, which may record or allow forremote monitoring of the seller’s property, including broadcasting or recording video and audio. Buyer should be aware that anydiscussions, including discussions of negotiation strategies, held on the property may not be confidential.(C) 145146147148149 150151152153154155156157158159160161162163164165166167168169170171172173174175176177178179180181182183184185186187188

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MLS Disclosures and Residential Seller/Landlord Options Client: / / Broker/Agent: Seller Client Buyer ClientAddress: Date:Bright subscribers complete this form with each client no later than signing a representation agreement.If you reconsider any selection, update this form with your broker. Maintain a copy for your records. WHAT IS BRIGHT MLS? HOW DOES BRIGHT WORK? Impartial Cooperation Among Agents and Brokers. Client Initials to Acknowledge Understanding the Above: As the seller/landlord, how will my broker use Bright to market my home? 1: When will your broker allow potential buyers/renters to learn about the property? Bright runs the largest, most accurate, up-to-date database of properties for sale and rent in the area, creating an open, transparent market for information about available homes. Most websites and apps get their information from Bright’s multiple listing service (MLS). For more information, go to www.brightmls.com/open. / / (date) Subscribers must submit information to Bright about every property with an exclusive listing within two days ofallowing any potential buyers (or renters) to learn about the property. 2: How will your broker use Bright? (Initial one applicable option) _____2-A. Use Bright to share my home's information with the open market (Internet: Yes) Bright will share the property’s information with other subscribers and popular websites/apps. You and your broker still manage access to the home (use option 2-C if tours/showings/open houses are not yet available when information must be submitted to Bright). _____2-B. Use Bright to share my home's information with real estate professionals in Bright’s MLS only, and do not publicly market my home on the Internet (Internet: No) Your broker may select not to have your property’s information shared with websites/apps. You and your broker still manage access to the home (use option 2-C if tours/showings/open houses are not yet available when information must be submitted to Bright). _____2-C. My home is ready for marketing, but will be ready for showings beginning on / / (date) The property will be “Coming Soon” in Bright until ready for home tours/showings/open houses, and then “Active” once any of those begin. If option 2-C is selected, also circle one: Internet: Yes / No _____2-D. I do not want my home on the open market: Restrict marketing only to my broker's network. Studies show that homes publicly marketed through Bright’s MLS typically sell for significantly more than homes marketed as “off MLS,” “off market,” “private” or “exclusive.” And most homes that start with restricted marketing find a buyer only once marketed through the MLS to the open market. If you want to instruct your broker to restrict marketing, then you must sign Bright’s separate Limited Marketing/Office Exclusive form because this limits people’s access to information. Bright supports an open, transparent market for property information by requiring subscribers (licensed agents and brokers) to cooperatively share information about allavailable properties and make them available to subscribers in the area on an impartial basis. Open, Transparent Access to Information. You and your broker decide on the information, pictures, and price submitted to Bright for your home. Bright checks it for accuracy, enhances it with historical records, and shares it (for free) with 100,000+ brokers/agents and thousands of sites and apps. Bright charges you nothing; subscribers pay a flat subscription fee. What do I need to know about broker fees? What your broker may earn, and what you may pay, must be agreed in a contract by the time you (seller/landlord) sign a listing agreement, or you (buyer/tenant) are taken on a home tour. Those amounts are not set by law, trade association, or Bright; they are fully negotiable. Subscribers must work impartially with their clients and other subscribers, in their client’s best interest, regardless of any financial arrangement with another broker, which may not be communicated using Bright’s system and must be disclosed in writing to their client. A buyer/tenant may ask in a purchase offer for a seller/landlord to cover closing costs, including broker fees. If you are a seller/landlord, your broker may indicate in Bright’s system your non-binding, negotiable invitation for a buyer/tenant to ask in their purchase offer for you to contribute to their closing costs, which may include their broker’s fees; your broker also may share fees with a buyer/tenant’s broker if disclosed to you in writing. _____ _____

Home Buying Workbook Meg

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