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No Nonsense Real Estate: What Everyone Should Know Before Buying or Selling a Home Paperback – September 30, 2016
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In my experience, almost everyone involved in real estate has their opinion of what is best and what strategies will yield the best results...whatever that means, BUT what they don't seem to do is take into account the rest of the variables that can drastically impact whether or not the real estate transaction that you may be involved in is RIGHT FOR YOU at the time.
It's very clear that the author of this book, Alex Goldstein, takes a much different approach and encourages the reader to do something remarkable...Instead of instructing you to blindly follow one of the many fad based strategies in real estate he advocates that you truly begin with the things that are the most important to you and your family when it comes to your transaction. Something that makes complete sense...and yet seems to be an incredible rarity in today's real estate industry.
Beyond just helping you to take yourself into account when making a real estate transaction he also gives you an in depth overview of all of the important things that need to be considered during the rest of the process. Even if you think you know real estate, you will certainly be able to learn or at the very least remember some of the very important ins and outs of the industry by reading this concise and powerful book.
I highly recommend this book to anyone who is considering a transaction in real estate. It'll certainly allow you to cover your bases more effectively and end up happier with your decisions. This book is good enough that I know I'll be rereading and leaning on its distilled expertise several times over the next couple years as my wife and I get more actively involved in the upcoming real estate transactions we have planned.
Because of the actionable information in this book I truly feel more confident about working with real estate and making better, more informed, decisions about the real estate professionals I enroll to support me in the process. Whether you're a seasoned real estate investor or a first time home buyer, this book will help you so go ahead and pickup a copy right now. It won't take you longer than an hour or two to read and you'll likely find yourself coming back to utilize it as a resource again and again.
Although the author does provide a link to a video that includes signing up, and, probably, will result in emails from the writer, this book and process appears NOT to be some slick marketing ploy, which is all too common with Kindle books.
Further, I found the video, or, rather, audio presentation to be highly informative, if a little dry and slow.
The book is a quick, informative read and provides a good deal of information about the real estate process and why you, as buyer or as seller, might benefit by using a ‘qualified’ real estate professional. Read on to learn some of the particulars I found interesting…
Length: Print, 110 pages.
Q - Target Audience/Genre and is it marketed as Nonfiction or Fiction:
A – People interested in purchasing or selling their home.
Q - How was this book obtained?
A – Bought on Amazon.
Q - Are there a lot of typos/misspellings, grammatical errors or other editing failures?
Q - Is this a fast, easy read or is it more of a leisure read?
A – No.
Q - What sort of language does this writer use to amplify the points made?
A – Plain English with no profanities and no cute puns or jokes. Just the information you need.
Q - My biggest pleasure or disappointment?
A – I learned quite a bit. An example is included in the below excerpt and demonstrates why I am high on this short book.
To give a feel for the editing, and the style and flow of this work, I am posting a brief excerpt below.
Non-U.S. citizen is buyer or seller
The Foreign Investment in Real Property Tax Act (a.k.a. FIRPTA) governs transactions involving non-U.S. citizens. It applies to all real estate sellers who are not U.S. citizens. If you are a U.S. citizen buying from a non-U.S. citizen, you need to be aware of the law. The burden for compliance lies on the buyer, so the IRS will pursue the buyer if the seller doesn’t comply. Also, the closing may be delayed or derailed if the seller makes a mistake. The bottom line is make sure you hire an escrow officer who is very experienced with FIRPTA transactions.
FIRPTA requires compliance with tax rules and may require a withholding of 15% of the property’s sale price. If sellers don’t calculate their numbers with proper withholding, and they were counting on those funds to close, the transaction can get stuck in limbo. Hence, full disclosure and an understanding of FIRPTA are particularly essential when a non-U.S. citizen is selling the property.
Many escrow companies will not accept foreign checks. Non-U.S. citizen buyers should be prepared to wire all funds required for the escrow. Also, purchase of the property is a separate matter from a buyer’s visa and immigration rights. Thus, foreign buyers should consult with an attorney on immigration issues before getting into a real estate transaction. If you plan to become a U.S. citizen, there may also be tax implications. Always consult your tax advisor in advance of signing a contract.
In short, transactions involving non-U.S. citizens are more complex than normal. You can avoid unpleasant surprises by talking to advisors in advance and regularly throughout the transaction. The rules, regulations, opportunities, and programs for non-U.S. citizens change frequently.
Goldstein, Alex. No Nonsense Real Estate: What Everyone Should Know Before Buying or Selling a Home (Kindle Location 433-466). Influential Press. Kindle Edition.
Well worth my time in reading and in listening to the free audio presentation. More books should be done this way.
Five stars out of five.
Comments regarding your opinion of this book or of my review, whether favorable or unfavorable, are always welcome. If you buy the book based on my review and become disappointed, especially, I do want to know that and I want to understand how I can improve as a book reviewer. Just please be polite.
Among the first chapters is an evaluation for the utility of a real estate agent, and the pros and cons of working with one.
The chapter titled "Choosing the Best Home For Your Family" is an important read for anyone in the market for a home. Subsequent chapters cover special situations including condominiums, co-ops, and single family homes.
Nearly every can benefit from the succinct no nonsense review of financial vehicles common in real estate transactions.
Since a significant amount of Americans will go on to own a home, and a number will turn to real estate for investment, the number of people that could be helped by this book is enormous.
Don't make a mistake that could cost you thousands of dollars. Read this book!
If you are buying, or selling a home for the first time, or have had dubious experiences before, this is a fantastic guide.