Article 1 (Prepare Your Home for Sale: Pack Up Your KnickKnacks) Article 2 (Winning the Bidding Wars) Article 3 (Q & A with Michael Merrill) Article 4 (Get to Know Allston and Brighton, Part II)

Prepare Your Home for Sale: Pack Up Your KnickKnacks... By: Davis Rowley (President of the Residential Association of Realtors) Don't be surprised if your Realtor tells you to clean up the clutter, pack up the knickknacks and ship it all off to storage, before you begin to market your house. What most sellers don't realize is that buyers are not interested in their personal items - especially items such as family photographs and various treasures a seller has collected over the years. These items will only get in the way of a potential buyer's ability to envision his or her own personal effects in your home. While most sellers cannot move everything out of their home and into storage, all sellers should consider at least packing away the items housed in such pieces of furniture as displace hutches and cabinets. By packing these items away, a seller can easily can create space in the potential buyer's eye. Moving various pieces of furniture out of the house before marketing it as another way to create space within a room and help the potential buyer imagine their own furniture in place of yours. Sellers can check with their Realtor for contacts of storage facilities and movers. Typically, storage facilities offer large garage-type storage facilities that are weatherproof, temperature-controlled and offer high security but easy access to renters. On average, rental costs for these self-storage facilities can run as low as $50 per month, depending on the size of the space needed and length of the lease. Several storage companies also offer delivery to the seller's door of large, weatherproof containers that the homeowners can pack themselves. Once the container is full, the storage company will pick it up and store it for the consumer. Sellers who choose to go it alone when storing items can opt to rent a small moving truck or trailer to cart their treasures to a storage facility. While the rental fees on these also are typically minimal, sellers will need to consider the amount of time and the fuel expenses associated with renting a truck or trailer. Sellers also should keep in mind that for many potential buyers, curbside appeal is often the determining factor as to whether or not they venture into a home that is for sale. As is the case, additional items the pros will often recommend seller's store include those outside the home, such as grills, children's toys and bicycles. Sellers who find they don't want to store some items but would just rather dispose of them can also consider selling off unwanted home furnishings at a yard sale. They also may want to consider giving some of their unwanted items to charity. Sellers should think of themselves as living in a model home when they market their property. That means that in addition to making sure the home is constantly kept clean, they need to be willing to move their favorite chair, end table or couch out. It just makes it easier for a potential buyer to envision a home office in place of the cozy den a seller may have used a certain room for. Since buying a home is usually the biggest purchase of a consumer's life, it gets frustrating for them if they cannot see past someone else's clutter. Finally sellers should plan ahead. Too many times sellers wait until the last minute to get their items moved and they end up paying more in the long run for services or space they don't need because what they do need is not available at the time. No matter what route a seller decides to take when clearing out the clutter, it is an investment in time and money that both the experts in the storage business and real estate profession agree is well worth it.

Winning the Bidding Wars... By Jay McHugh of RE/Max Affiliates Hot real estate markets may bring out the worst in some people. Sellers become greedy and demanding. Buyers become desperate, frustrated and disillusioned. Moreover, real estate agents get caught in the middle as they try to negotiate purchase contracts that are acceptable to both sides of the transaction. Along with frayed nerves, hot markets mean multiple offers will be received for just about every home that is priced competitively. These bidding wars are great for sellers, but they add to the "freaked out" factor for buyers. How can you buy the home of your dreams when several other people are also bidding on it? Here are six tips:      1. Make your best offer. Let's face it, the bottom line is the most important consideration for most sellers. They're naturally looking to sell their home for the highest possible price. If you want to win a bidding war, offering the highest price - something attractively above the asking amount--is a sure way to get the seller's attention. Most sellers who receive multiple offers only seriously consider those at the top of the price heap.      2. Be creative and cover the seller's closing costs. Of course, price is only part of the equation when it comes to the seller's net proceeds from the sale. An offer with a slightly lower price can triumph if the buyer agrees to incur more of the transaction costs. Pay 100 percent of the escrow fees. Purchase your own home warranty, instead of asking the seller to buy it.      3. Show you're serious. Offer to make a large earnest-money deposit and as large a down payment as you can. Putting more money on the table at the initial offer shows the seller you're serious about the transaction and you're willing to put your money behind your intentions.      4. Get pre-approved. Attach a copy of your mortgage pre-approval letter to your purchase offer. A pre-qualification letter is helpful, but a full approval, subject only to an appraisal of the property, is even better. Sellers favor buyers who demonstrate that they're financially able to close the transaction. Agents advise getting your pre-approval letter from a local mortgage broker or lender who has a good reputation among the local agents. This controls the transaction instead of working with a lender from the Midwest!      5. Work with a real estate agent who is successful and well-known to other agents. Your agent's professionalism - or lack of it - reflects on you. Also, if your agent will be faxing your offer instead of presenting it in person to the seller, a cover letter should be attached. The letter should be addressed to the sellers and should outline the strengths of your offer. Make sure the paperwork is neat and legible too.      6. Don't add unusual or unnecessary contingencies or requests to your offer. Sellers know extra contingencies (e.g., the approval of in-laws, the sale of another residence) can delay the transaction or create a loophole for the buyer to bow out of the agreement. Special requests (e.g., the right to purchase appliances or move in early) complicate the offer and distract both sides from more important elements. On the other hand, don't waive standard inspection and financing contingencies unless you thoroughly understand the considerable risks. Remember, in a hot market you as the buyer are not necessarily competing against the seller; rather you are competing against the other 2, 3, or multiple offers!

Q & A with Michael W. Merrill of Merrill & McGeary, a real estate attorney. Q:   I own a condominium unit which I rent. The unit has two decks which are for the exclusive use of the occupants. One of my tenants, without my knowledge and without the permission of the Condominium Trustees, installed a hot tub on one of the decks. It was discovered when water leaked into the unit below. The Trustees allowed the hot tub to remain as long as the tenant purchased insurance. Now the tenant has vacated and the hot tub remains. I want to continue to use the hot tub as rental incentive to new tenants and I will pay for the insurance, but the Trustees requested I remove the hot tub at my cost and expense. Can I win this argument? T.L. Boston, MA A:   In order to give a definitive opinion I would have to review the Condominium documents, your unit deed and the unit plan. However, as a general rule, decks appurtenant to units are common areas of the Condominium for the exclusive use of the occupants of the unit. As the deck is a common area, the Trustees have the sole authority to determine what can be constructed on the deck and/or how the deck can be used. The Trustees authority may be limited by language in the master deed of the Condominium or in the unit deed, which may grant you some additional rights. The fact that the hot tub was installed initially without the Trustees' permission works against you. Also, unless there is an agreement to the contrary, the Trustees can revoke their permission that may have previously been granted. Given that the hot tub leaked once, it seems reasonable for the Trustees to request the hot tub be removed in order to avoid the risk of loss again. While insurance may compensate for the loss, water leaks alone are problematic and time-consuming to deal with. For these reasons I do not believe you would prevail. Q:   I am selling my house and purchasing another house. I have a first mortgage and I have a home equity line of credit. These will have to be paid off when I sell my house. I'm not sure how this happens. Do I take a check after the closing to my lenders and repay the loans? I assume I need certified or bank checks. How do I find out the exact amount I have to pay? Technically, I could continue to write checks on my home equity line of credit even after the closing. How is that handled? C.G., Cambridge, MA A:   As the Seller of property you have an obligation to the Buyer to deliver clear title to the Buyer at closing. In order to deliver clear title both loans must be paid in full at the time title passes to the Buyer. However, in most conventional sales, you do not actually make the payments; the Buyer's lender's attorney will make the payments directly from the proceeds of the sale of your house. Prior to closing the Buyer's lender's attorney will be in touch with you to obtain information regarding your existing loans. The attorney will then obtain payoff letters from your banks through the day after the closing. You may be asked to provide a letter freezing the home equity line of credit. At the closing the amount due for the payoff of each loan will be deducted from your proceeds and reflected on the settlement sheet. After the closing and the recording of the deed, the attorney will overnight the payoff checks to the banks. The banks will, in return, deliver mortgage discharges to the attorney who will record the discharges at the Registry of Deeds.

Get to Know Allston and Brighton, Part II By Sara Rosenfeld Sr. Vice President, Co-Manager of Hunneman & Coldwell Banker In the last issue of Just Property Magazine, I introduced our readers to some of the neighborhoods of Allston and Brighton. As I mentioned last month, I suggest that you take the time to get to know all the different Boston neighborhoods. One of the areas I suggest you take time to look at a little closer is Allston and Brighton. Allston and Brighton are diverse with an international population and many different neighborhoods. They offer a variety of housing options and lifestyles. We suggest you visit the neighborhoods and experience them for yourself. If you would like a free copy of our office's "In and around Allston-Brighton Community Guide", which includes valuable information about these neighborhoods, please call us at (617) 731-2447 and we will arrange to get you a copy! If you missed last month's article, I would be happy to send it to you. Many of us may be familiar with Brighton by shopping in the commercial districts. Brighton's largest commercial area is known as Brighton Center. Along with offering a wide variety of retail stores, restaurants and pubs, Brighton Center is also known for being the site of many other important attractions. St. Elizabeth's Hospital, Brighton's only high school, The Brighton branch of the Boston Public Library, the district courthouse, the area's police headquarters, and the junction of four different bus lines are some of the reasons why you may have visited the Center. The neighborhoods surrounding Brighton Center are very special. Close to Brighton Center is the "Mansion District", named by the locals and recognized as a neighborhood of some of the finest turn-of-the-century Victorian and Colonial style homes in Metro Boston. Surrounding the Mansion District are wonderful neighborhoods of quality single and multi-family houses considered to be very desirable due to their convenience to Brighton Center and the bus lines. West of Brighton Center is Oak Square, which is the convergence of Washington, Faneuil, Tremont, Nonantum Streets, and Breck Avenue along with connecting the bus routes #57 and #64. The neighborhoods surrounding Oak Square are the "Breck Hill" area to the west, "Presentation Hill" to the north and "Faneuil Area" to the east. All of these neighborhoods boast lovely residential tree-lined streets with primarily single, two, and three family homes. Many of the streets in these areas have wonderful views because of the significant hills. All three areas are very popular with commuters since there is easy access to the Newton Center Exit #17 of the Massachusetts Turnpike (Route 90) and Soldier's Field Road. Both Breck Hill and Presentation Hill's streets cross into the City of Newton offering a more suburban setting than most of Brighton. South of Breck Hill is an area that surrounds Chandler Pond and the Commonwealth Golf Course in Newton. Chandler Pond, approximately ten acres big, was originally excavated in 1865 and continues to provide a beautiful haven for nature lovers. The homes surrounding Chandler Pond are primarily single family homes with a smaller number of two family homes. The condominiums known as The Towne Estates border the western side of the pond. This neighborhood is walking distance to Commonwealth Avenue, the last stop of the B-line of the MBTA, and in close proximity to Boston College and the Chestnut Hill Reservoir.