Gland88: Finding the Uncommon Deal

Finding the Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home For the Lowest Possible Price

Take advantage of today's real estate market to find great properties at incredible prices.

Our recent economic meltdown transformed real estate from a popular investment to financial kryptonite. Too many people purchased homes with mortgages they simply could never afford. The good news: Great deals are out there for the taking. Finding the Uncommon Deal gives you the secrets to discovering and successfully negotiating the lowest prices for the most prized properties available.

Discover how to go beyond Internet listings to get on-the-ground intelligence on the best dealsGet proven negotiating skills to close the deal at a rock-bottom priceThe author has assisted thousands in purchasing homes as a lawyer, broker, and investor; has been ranked by internationally esteemed publication Chambers and Partners as one of the leading real estate lawyers; and regularly appears as a real estate authority in the New York Times and the Wall Street Journal

If you're successful enough to afford a home, then you probably have the skills needed to get a great deal in today's market. Finding the Uncommon Deal gives you the keys to leverage your skills for success and savings, opening the door to today's best properties and lowest prices.

Read Excerpt: Finding the Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home For the Lowest Possible Price

PDF format, 79KB.

Author: Adam Leitman Bailey
Publisher: Wiley, 2011
ISBN-10: 0470943661
ISBN-13: 978-0470943663

Chapter 1 Get Ready to Buy Tools and Suggestions to Maximize Buying and Borrowing Power
Traditionally, buying a home in the United States required that a buyer fund 20 percent or more of the purchase price.

But over the years, first government-insured home loans and then other types of home loans requiring the buyer to fund only 5 or 10 percent of the purchase price have flourished and are common, even after the real estate crash. By taking out such a loan, a financially stable person can realistically afford to purchase a home. This chapter gives advice on maximizing your ability to obtain a home loan, that is, a mortgage. It will also help you evaluate how much money to spend on a home based on your individual family needs and spending power.

MAKE A LIST OF YOUR ASSETS AND LIABILITIES
Never go shopping unless you know how much money you have to spend.

Start by making a list of your total assets, income, and liabilities. This will provide data that can be easily analyzed by you and by a lender, not only to determine how much money you can comfortably borrow, but also to determine how much of your income will be needed to pay the cost of operation and maintenance of your home.

The list will also prove helpful when you complete a lender?s application for financing, as well as in preparing a cooperative or condominium application for submission to the board of directors reviewing your financial ability to afford the cost of a home. ..

About the Book
Real estate deals are like worms: to find the choice ones, you'll have to do some digging. In today's tumultuous market, buyers who are willing to dig deep can now find some of the best opportunities in history. In Finding the Uncommon Deal, you'll get the expert advice you need to navigate this changing real estate world. You'll learn how to maximize your buying and borrowing power, gather on-the-ground intelligence on great deals, and negotiate for rock-bottom prices.

"Finding the Uncommon Deal tells you what you must know before buying a home . . . period. I highly recommend reading this book at any stage of your real estate experience. This is the most comprehensive home-buying resource written by one of the most respected and knowledgeable real estate attorneys, investors, educators, and mentors in the country!"?Evan Farmer, host of home-makeover and real estate show While You Were Out

"This shoud become an essential guide for homebuyers. It combines a real estate lawyer's insider expertise with easy-to-follow directions for everyday house-hunting and home-buying. For good measure, Adam Leitman Bailey sprinkles in anecdotal lessons and common sense financial advice from his personal experiences. Don't leave home or move to a new one without this book."?Leonard Downie, former executive editor, The Washington Post

Includes an Online Guide to Laws & Practices in All 50 States.

About the Author
ADAM LEITMAN BAILEY, ESQ., has assisted thousands of property owners in buying homes.

He owns one of the nation's most prominent real estate law firms as well as a real estate brokerage company and investment properties. The esteemed Chambers & Partners publication has selected him as one of New York's Leading Real Estate Lawyers and he was named a Super Lawyer by Law & Politics magazine.