NYC REAL ESTATE BUYERS GUIDE BY SID GANDOTRA

1. BUYER’S GUIDE TO NYC REAL ESTATE Sid Gandotra Oxford Property Group Licensed Real Estate Agent Cell: 201.281.9651 | E: sid@opgny.com

2. BIOGRAPHY As a former Marketing professional, Sid has been instrumental in helping companies and entrepreneurs successfully grow their businesses through his laser-focused marketing strategies since 2013. Along with having a successful career in marketing, Sid leaped into the world of Real Estate for a fresh new challenge and joined the Oxford Property Group (a premier real estate brokerage and management firm in NYC) as a licensed real estate agent in July 2017. His motivation for making the switch was Luis D Ortiz - a real estate agent, a popular TV personality (from Million Dollar Listing New York) and Sid’s very own role model. Sid brings a unique hands-on approach to Oxford Property Groups’ rapidly growing clientele of US and international customers, reflecting an exceptional customer service philosophy he cultivated in his marketing career. His main focus has been to spearhead the rentals, sales and investment growth opportunities in the New York City market. Sid’s appreciation of cultural diversity and genuine desire to help people find a ‘place that feels like home’ are things that make him a pleasure to work with. The architectural mystique of NYC, whether it is the prewar buildings or the modern luxury developments, truly fascinates Sid. His passion for real estate, a strong work ethic and tremendous love for the city are what drive Sid to do what he loves every single day. LET’S GO!

3. Why you should work with a buyersagent BUYER’S GUIDE The primary reason to work with a buyer's agent is that we bring value to the process of purchasing a home in a complex and fast-moving market like NYC. The principle value we bring is protecting the interests of you, the purchaser, ensuring you achieve value for money and in the case of co-op purchases, to guide you through the complicated and personally intrusive process. Other fundamental benefits of using a buyer’s agentare: • A buyer’s agent provides representation during negotiations and is able to find out things a buyer willnot. • A buyer’s agent has the total fiduciary responsibility to the buyer to act in their best interests at all times. If a buyer works on their own and negotiates directly with the sellers agent, they will be likely less effective dueto the listing agents fiduciary responsibility to the seller. • As a buyer’s agent is not paid by their clients, they provide totally impartial onions and are able to tell buyers what they NEED to hear rather than what they WANT to hear, without and rich of conflict ofinterest. • A buyer’s agent can provide up-to-the-minute market analysis and data. A buyer’s agent has access to every NYClisting. • A buyer’s agent prepares complicated co-op and condo packages for their clients and guides them through what can often be a confusingprocess. • A buyer’s agent works with the seller’s agent to hold transactions together, ensuring all the variousparties. Such as attorneys, mortgage brokers/underwriters, management companies etc. to make the whole process for the buyer as simple and smooth as possible.

4. BUYER’S GUIDE Continued… What we bringto the table DealNegotiation There are a lot of moving pieces in real estate deals. With our knowledge and expertise in putting together compelling offers, we ensure you to getthe best dealpossible. With a specialty in condos and co-ops sales in New York City, we’re delighted to guide you through the entire process. ContractNegotiation Our team of highly knowledgeable New York real estate attorneys are experts in streamlining contracts, while positioning you to receive the most advantageous terms. They will ensure that you are fully protected when negotiating and signing a Contract ofSale. Broker PriceOpinion With years of industry experience and access to exclusive market data, we areable to present a comprehensive analysis of the properties and current market trends in your desired neighborhood. Legal Advice & DueDiligence Our legal professionals will perform all the proper and necessary due diligence on your behalf, including reviewing the minutes from Board meetings and assessing the financials to make sure that your investment is sound. ApplicationSubmission Applications for condos and co-ops in New York City are rigorous.Ensure your acceptance by letting us assemble the purchase application package from start to finish. Board applications are our specialty and we’ll make youshine. MortgageProfessionals We’ve built a network of highly efficient licensed experts that we’ll connect you with so you can be pre-qualified for a loan, accessthebest rates and close quickly on your dreamhome.

5. BUYER’S GUIDE Continued… A Buyer’s Agent HelpsYou Achieve Your Home Buying Goals By: • Saving YourTime • Identify your specific purchase needs. ( InitialScreening/Interview) • Educating and informing your every step of the purchase process from beginning to end. • Selecting and scheduling appropriate listing appointments based on your searchcriteria. • Saving YouMoney • Preparing a Comprehensive Market Analysis (CMA) in order to make an accurate and educated offer. • Expert and experienced negotiation on yourbehalf. • Offering an unbiased objective opinion on value based solely on yourinterest. • Providing Industry and NeighborhoodExpertise • Navigate co-op/condo board packages, rules andapplications. • Analyze specific local, regional and national trends that may affect your purchase decision. Identify local trustworthy vendors who are integral throughout the buyingprocess. • Resource for answers to any questions you may have during the purchaseprocess.

6. BuyerChecklist BUYER’S GUIDE Continued… • Evaluate your budget. What can you afford for a down payment as well as monthly expenditures? Additional monthly expenses to consider would be your maintenance or common charges/real estate taxes, monthly mortgage payment, homeowners insurance, utilities, parking ,etc.,. • Speak to a lender and obtain mortgage pre-approval (ifnecessary) • Select an Attorney who specializes in New York City Real Estate • Prioritize your needs - space, light, views, building amenities, etc. • Identify your timeline to make a purchase. • Explore different neighborhoods to identify your desiredlocation • Research school districts in the selected neighborhood(s) if applicable • Evaluate access to transportation in the selectedneighborhood(s) • Evaluate building amenities and house rules in terms of your preferences (washer/dryer permitted, gym in building, pet policy, storage facilities, sublease, doorman,etc.) • Begin to gather financial and supporting materials for your mortgage application and boardpackage • Once apartment has been selected, review the building financials with your attorney and agent to asses the financial health of thebuilding

7. USEFUL TIPS Determining Budget/ FinancingOptions Pre-Qualified Pre-Approved The pre-approval process requires you to provide the requested financial documents to your mortgage lender to substantiate your financial profile. This involves a detailed background check which includes authorizing the lender to run your credit history. Required documents at this state generally include tax returns, pay stubs, bank/asset statements, etc.Upon Pre-approval you then receive a formal letter from the lenderstating the amount you are qualified to borrow. Pre-Approval is generally good for 60-90days Pre-qualification is an informal non-binding process in which you provide preliminaryinformation regarding your income, debts, assets and credit to mortgage lenders. The lenders perform some calculations and estimate the size of the home purchase they will likely approve based on the information you provide. At this juncture, it is important that you give fair estimates of your financial profile to any potential lender since the per-qualificcation is based solely n the information you provide. There is no formal vetting of your financial situation at this point (i.e., credit check/documentsubmission) It is imperative to determine your financial state prior to beginningyour search. This will help you identify a suitable price range as a starting point form which to begin your search. As part of your initial buyer consultation we will go over the different financing options and can make an introduction to trusted mortgagebrokers

8. BUYER’S GUIDE Continued… Condo vs Co-op There are some key differences between purchasing a co-op and a condo. If you purchase a co-op you are essentially purchasing shares in a corporation that won the building in which the units are located. When purchasing a condo you receive a deed much like purchasing a house. Unlike other parts of the country, the majority of apartments in NYC are predominately co-opunits CONDO CO-OP No InterviewRequired ApprovalProcess Interview& ApprovalRequired Minimum 10%Down Financing Minimum 20%Down 45-60 Days After ContractSigning Est. ClosingTime 60-90 DaysAfter ContractSigning Allowed With Board Approvals Renovations` Allowed With Board Approvals BasedOn SquareFootage MonthlyCharges BasedOn Number of BuildingShares Owner Pays HomeownerTaxes Taxes Included in the Maintenance Allowed At Will Within BuildingRules Subletting Board ApprovalRequired Allowed At Will Within BuildingRules Selling Subject to Transfer Tax & Board Approval

9. BUYER’S GUIDE Continued… The ABC’s of Purchasing in NYC • Begin Search - Pre-approval and begin property search . Generally, a buyer sees 10-15 properties before submitting anoffer • Preparation- Your agent will provide a comparative market analysis for the unit which you would like to make an offer on. This will include sold units in the Building and geographic area to determine and initial offer. Your agent will e able to provide you with objective advice based on real time marketdata. • Offer Negotiation & Acceptance - Often there will be some negotiation related to the selling price, terms and possibly additional items like furniture. Having an objective opinion from a buyer’s agent negotiating on your behalf can save you thousands of dollars and or/keep you from overpaying for a specificproperty • Contract Review & Attorney Due Diligence - Your attorney will review the contract terms and take an extensive look into the financial stability of the building. The attorney prepares a questionnaire for management and reviews board minutes which gives you valuable insight into the history of thebuilding. • Contract Executed - Both parties sign the contract to purchase and the agreement is now binding. At this time the buyer will be responsible for placing 10% of the purchase price inescrow. • Financing - If you are financing any portion of the purchase, the next steps will involve working closely with your mortgage lender. • Complete loanapplication • Bankappraisal requested • Receiveformalloanapproval • Loancommitmentletterisissuedfromthe Bank

10. BUYER’S GUIDE Continued… The ABC’s of Purchasing in NYC • Building Sales Application - The next phase would be submitting the application (condo) or board package (co-op). The applications can vary greatly from building to building but be prepared to submit the same documents that were submitted to secure your mortgage in addition to others. Even if this is an all cash purchase some form of background documentation will still be required. Having an agent who is highly experienced at submitting purchase applications is valuable at this stage because management companies demand that an application be submitted in perfect order. Otherwise, it will be sent back and can delay the process. Additionally , if you’re purchasing a co-op you will most likely be required to have an interview with the board members. Again , an experienced agent comes in handy in prepping for theinterview. • Board Approval - Approval is granted! The bank and attorneys prep the required documents for closing. In conjunction with the bank, attorneys and building management a closing date isscheduled. • Closing Day - Prior to or on the scheduled day to close you will do a final walk through /inspection of the property with your agent. At the closing table you will review and sign documents with your attorney present. The closing generally takes about an hour orso. Congratulations on your New Home ☺

11. BUYER’S GUIDE Continued… NYC Closing Costs – Condo vs Co-op Comparison * Applicable if price is greater than or equal to $1,000,0000 ** Applicable if new development

12. THANK YOU