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Finding the Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home For the Lowest Possible Price Paperback – April 19, 2011


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Product Details

  • Paperback: 230 pages
  • Publisher: Wiley; 1 edition (April 19, 2011)
  • Language: English
  • ISBN-10: 0470943661
  • ISBN-13: 978-0470943663
  • Product Dimensions: 9.1 x 5.9 x 0.8 inches
  • Shipping Weight: 11.2 ounces (View shipping rates and policies)
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (89 customer reviews)
  • Amazon Best Sellers Rank: #346,464 in Books (See Top 100 in Books)

Editorial Reviews

Review

Bailey shares with the reader his experience both as an attorney and as a human being confronted with the seemingly overwhelming task of buying a home, and does so with passion, enthusiasm and heart. --New York Law Journal

Real estate attorney Adam Leitman Bailey's debut book doles out advice on all stages of buying a house, condo or co-op. Yet the author's ambitions are broader than just a how-to guide to homeownership. --The Real Deal

With his new book, "Finding The Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home for the Lowest Possible Price," Bailey offers a stripped-down, fluff-free set of anecdotes and action steps culled from his own daily work as a real estate attorney, homeowner and real estate investor. --Inman News

Meticulously organized, eminently readable, palatably didactic, endlessly practical, and exhaustive in its scope, "Finding the Uncommon Deal" is no boring lecture. --New York Law Journal

As Virgil led Dante through Hell, Bailey earnestly guides the reader through the home buying ordeal without being unctuous, professional or cute. His respect for the reader is apparent as well. --New York Law Journal

From the Inside Flap

I had been living in a rental apartment on 34th Street in New York for over a year when my landlord mentioned she was interested in selling and asked if I would be interested in buying. I loved my apartment, so I knew this was a great opportunity for me to step into the realm of ownership, while reducing my monthly costs at the same time. I was 32 years old, had never owned property before, and as excited as I was about the prospect, I was terrified about it too. That was when a dear friend of mine mentioned Adam Bailey's name as that of an attorney I should speak to about the deal. Best move I ever made!
Now in hindsight, it was a rather simple deal; although it's fair to say that your average transaction outside New York City could never compare to the complications involved with buying a NYC co-op. This was also a period of time when banks made things extremely easy on the lender--something we may never see again--in my lifetime anyway. But what I got from Adam then, and what I continue to receive a decade later, is a boiled-down, layman's education in how it all works.
Adam is a natural-born teacher, and he genuinely thrives on helping people do what he sincerely and passionately loves doing himself: buying real estate--a passion that I joke with him about as being evident in the speed with which he talks. If you ever have the privilege of hearing him speak, you'll know what I mean when you come away extremely inspired, somewhat exhausted, and very much in love with real estate, whether you planned to be or not. His written word, as you'll find here, has a similar effect--minus the exhaustion.
Flash-forward 10 years, and I am now a real estate investor with properties in upstate New York, New Orleans, Nashville, and yes, I still have that little co-op on 34th Street. I'd like to think that I'm one of the clients Adam refers to as an inspiration for writing this book. In fact, the chapters of Finding the Uncommon Deal eerily read like answers to the various, and seemingly random, questions I've peppered him with over the years. As it turns out, there was nothing random about my questions after all. It's just that the intricacies of any one real estate purchase can be so extremely vast that the parts don't always seem to connect at first. Furthermore, most buyers never have the same experience as their friends, families, or neighbors, and no one property buying experience is ever the same as the last one.
One thing that I believe this book does exceptionally well is to paint a picture of the real estate purchasing puzzle in a linear fashion so that the pieces always make sense in context, even if you encounter them way out of order as I frequently have. Adam does this by walking you through the steps from the beginning to the middle and all the way through closing a property purchase of any kind.
When I decided to become a professional investor five years ago (a move I felt necessary to offset the inherent instability of a career in entertainment), I began filling my personal library with books that covered the specific areas of real estate I was interested in, and my library as a result is huge, with more than 30 books directly related to buying real estate. While I have found each one invaluable in its own way, what they all add up to as individual resources can be found boiled down in these pages, written in easy to understand terms. The more complicated concepts are illustrated through Adam's real life stories, many of which I can relate to directly myself, and the lessons learned are summarized in easy to reference "Insider Tips" at the end of the chapters.
Is it a one-stop shop for a professional real estate investor? No. It wasn't meant to be. A book of that sort would likely be 10,000 pages long or more. What Finding the Uncommon Deal is, however, lies right in the title; it's what you must know before buying a home . . . period.
I highly recommend reading this book at any stage of your real estate experience. Go forth with home buying confidence, knowing you have what I believe to be 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
About Evan Farmer
Evan Farmer was host, carpenter, and handyman of The Learning Channel's Emmy-nominated series, While You Were Out, and host and designer for HGTV's Freestyle. Evan first reached stardom performing as part of the MTV hit boy band 2GE1HER. He currently owns and co-owns five investment properties in three states and in 2003 he co-founded Renovolution, a company whose mission is to provide affordable housing to struggling families in New Orleans. You can find more information about Evan at evanfarmer.net.

More About the Author

Adam Leitman Bailey, Esq., has, during his career, assisted thousands of property owners in buying homes. Besides being ranked as one of the nation's most prominent real estate attorneys and named a 'Super Lawyer' by Law and Politics Magazine, and one of the "nation's leading real estate lawyers" by Chambers & Partners, Bailey owns investment properties, a real estate brokerage company, and is a primary drafter of residential leases for the nation's leading provider of form agreements. For the New York Times, Wall Street Journal, and several other national media outlets, Bailey frequently contributes his real estate expertise and advice.


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Customer Reviews

The book is easy to read and well organized.
DMC
What I thought made the book intriguing was the inclusion of Adam Leitman Bailey's personal stories.
Karlie
I recommend this book for anyone buying a home for the first or fifth time.
Lawlady

Most Helpful Customer Reviews

86 of 106 people found the following review helpful By David Goldberg on December 16, 2012
Format: Paperback
Adam Leitman Bailey runs a law firm in New York City. A quick review of the law firm's website reflects that at least nine (9) current or former employees of Mr. Bailey's firm wrote reviews of his book. Many of these people used their real names and only one person was honest and noted that he has a professional relationship with the author. (The website for the firm is:[...]) (1) Leonard H. Ritz, (2) Laurie Moldawer and (3) Blair Parsont; are just three examples of people who made no effort whatsoever to hide their identity or affiliation with Bailey's firm.
Not surprisingly, the reviews are effusive with their praise of the book and Mr. Bailey. Every single "review" is gushing with flattery and adulation. According to Mr. Bailey's website, Laurie Moldawer is the Chief Operating Officer of Adam Leitman Bailey, P.C. In her review of the book, she wrote: "It just came out, and [the book] is going to be the modern day textbook for buying real estate.... I'd give this book as a gift to anyone thinking about buying a house or apartment or condo." Even if Ms. Moldawer believes the lavish praise contained in her review, she and the other Bailey employees have an obvious obligation to disclose their professional relationship with the author. They failed to fulfill this plainly obvious ethical responsibility.
I am an avid reader and I rely on the reviews of regular people to provide candid feedback of books. It is one of the reasons I enjoy shopping at Amazon and buying books online. All of the reviews for this book should be scrubbed because it is quite clear that they are unreliable.
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11 of 11 people found the following review helpful By April on April 25, 2011
Format: Paperback
Before reading this book, I had discounted that idea that home ownership was an option right now. Considering the current economy and the harsh economic realities we have seen in real estate lately, the idea of purchasing a home did not seem feasible. However, after reading through this book carefully, I can now see that knowing the right choices to make at certain points makes the task seem much more doable. Using the information here, my husband and I have determined that we could afford a home in just a couple years, and we feel much more hopeful that we won't have to settle for less than we really want.
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16 of 18 people found the following review helpful By Robert Stanton on November 13, 2012
Format: Paperback Verified Purchase
One of New York City's most successful, visible and aggressive real estate lawyers takes you gently by the hand and leads you through the entire process of making the most important investment of your life: buying a home. But beyond being a detailed account of every step along the way, all of the preparation you should take as you consider buying--including deciding exactly how much you can afford to spend--and all of the traps and pitfalls that lay in wait for you in making a purchase, from unforeseen horrors to stiff closing costs, "Finding the Uncommon Deal" is also a "How to Win Friends and Influence People" for the 21st Century. Aside from his thoroughly and straightforwardly presented advice, the urgings to explore with due diligence every aspect of your future investment, be it a house, condominium, coop, or condop, and the neighborhood where you're buying, Adam Leitman Bailey's book is a sterling primer on how to negotiate effectively. Structured like Dale Carnegie's book, each chapter, after giving a thorough account of every step toward making the purchase and the deal itself, is illustrated with exciting episodes from Bailey and his clients' own lives --including the nightmare of the sociopathic millionaire tax evader who tried to make off with Mr. Bailey's downpayment; and the suspenseful story of the woman who bought, along with a building, the shady, alcoholic seller who made a handshake deal to live as her tenant rent free, without mentioning that he'd already sold the property to someone else: the ensuing early-morning race to the title office to file first leads Mr.Read more ›
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8 of 8 people found the following review helpful By Todd on April 28, 2011
Format: Paperback
As a fellow real estate attorney and colleague of the author this book is a very easy read and should be used as a guide not only for all consumers and clients but for all lawyers as well. Its a direct map to the home buying market. I particularly found the authors anecdotal stories to be the best part and enjoyed reading them and how they relate to the laws and the entire home buying process. As a lawyer, I have my own stories as well. This book lays out perfectly the entire process and explains it in lay person terms so any potential buyer, investor, or client can read it and understand the transaction and not be intimidated or daunted by it. I have indeed found in my practice that by the time the client gets to their lawyer there are usually many items that they have yet to know about and learn so reading a manuel like this makes a buyer or investor more informed about what they need to do and about what the home buying process entails. I highly recommend it for everyone and I wish the author the best of luck.
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8 of 8 people found the following review helpful By Yu Chiang on April 25, 2011
Format: Paperback
I thought this book would be very dry, but possibly helpful in getting facts. So, I was pleasantly surprised to find that it was actually written in a way that made it feel like hearing advice from someone you know. Adam Bailey has done a top-notch job of collecting all the best advice on every aspect of this endeavor and provided it in a way that is usable to anyone. This book offers advice that is current and user friendly. It will undoubtedly help you make the best choice possible!
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