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9780471357261

Not One Dollar More!: How to Save $3,000 to $30,000 Buying Your Next Home, 2nd Edition

by ;
  • ISBN13:

    9780471357261

  • ISBN10:

    047135726X

  • Edition: 2nd
  • Format: Paperback
  • Copyright: 1999-10-01
  • Publisher: Wiley
  • Purchase Benefits
List Price: $27.95

Summary

Now you can own a home and save money tooHome buyers who know how to bring down the price of the home they want understand negotiation, do their research, choose the right agent, and deal effectively with their bank. This comprehensive and money-saving book explains all these things in easy-to-understand language and helps readers gain maximum leverage from the inspection report all the way through closing. Included is a new section that covers alternative types of financing. Low interest rates and affordable housing are fueling an escalating housing market Publications such as Money, Kiplingera??s Personal Finance, and Business Week have all reported on Joseph Cummins and his work in real estate Joseph Eamon Cummins (Oceanville, NJ), former real estate agent and the originator of "invisible negotiation," has tested and taught these methods in the United States and overseas.

Author Biography

JOSEPH ÉAMON CUMMINS is an award-winning writer and former real estate agent. His work is regularly featured in Money, Home, Business Week, MoneyWorld, Kiplinger’s, and other major publications. He has appeared on CNBC, NBC, CBS, and other national TV and radio networks.

Table of Contents

AUTHOR'S NOTE vii(2)
ACKNOWLEDGMENTS ix(8)
ABOUT THE AUTHOR xvii
INTRODUCTION 1(1)
The Power of Invisible Negotiation 2(1)
This Book and You: Making It Really Pay Off 3(2)
A Pawn in Somebody Else's Game? 5(1)
A Structure for Learning 5(1)
The Key Ingredient--Action! 6(4)
PART ONE: HOW NOT TO LOSE: THE FIRST STEPS 10(14)
CHAPTER 1: COME INTO MY PARLOR
10(3)
Knowing What You Are Up Against
11(2)
CHAPTER 2: IT'S YOUR MONEY--BUT DO YOU KNOW WHAT IT'S REALLY WORTH?
13(11)
When a Dollar Is Not Really a Dollar
14(3)
What's in It for You?--Hard Cash and Peace of Mind!
17(2)
Factors That Influence Your Success
19(1)
Not Just Dollar Bills: The Alternative Values of Your Money
20(4)
PART TWO: PREPARING TO WIN 24(50)
CHAPTER 3: GOING INTO ACTION
24(14)
The First Commandment: Don't Rush In!
26(3)
Power and Predictability
29(1)
Knowing What You Need and Knowing What You Want
30(1)
How to Set Spending Limits and What to Reveal
31(2)
Research: Finding Out What You Need to Know
33(5)
CHAPTER 4: DEVELOPING A PROTECTIVE STRATEGY
38(22)
Case Study: Millions at Stake
39(1)
The Importance of Control
40(1)
What You Don't Need to Pull Off a Good Deal
41(1)
How Thick Is Your Armor?
42(1)
The Agent Sells to Live and Lives to Sell
43(1)
Four Traps and Phony Buyers
44(11)
Fine Tuning Your Basic Strategy
55(3)
What You Must Never Forget About the Agent
58(2)
CHAPTER 5: THE INITIAL ENCOUNTER: HOW TO HANDLE THE AGENT
60(14)
Two Keys: Staying Calm and Alert
61(2)
Taking the Inquisitive Agent in Your Stride
63(2)
Why and How You Should Stay Unpredictable
65(2)
Using Your Quiet Power
67(1)
Conferred Expectation
67(2)
`Why Are You Buying?' A Question You Should Know How to Answer
69(5)
PART THREE WINNING: KEEPING THE ODDS IN YOUR FAVOR 74(54)
CHAPTER 6: VIEWING PROPERTIES: YOUR CHANCE TO MOVE AHEAD
74(12)
Five Questions You Should Always Ask
75(5)
Knowing How Your Competitor Thinks
80(2)
What Are the Agent's Real Needs?
82(1)
Why the Agent--and the Seller--Need You More Than You Need Them
83(2)
Key Points to Remember
85(1)
CHAPTER 7: WHEN YOU FIND THE RIGHT HOME
86(30)
Always Pleasant--Never Naive!
88(1)
Time--Making It Work for You
89(2)
Crawl and Stall Before Making an Offer
91(2)
How to Make an Offer
93(1)
Case Study: Making Money for a Banker
94(7)
Case Study: Saving $30,000 on a $210,000 Home
101(5)
The Importance of Making Your First Offer a Low One
106(2)
Protect Yourself Legally
108(1)
Using Escape Clauses for Protection
109(1)
Placing Other Conditions on Your Offer
110(4)
Key Points to Remember
114(2)
CHAPTER 8: DEAL TIME: CREDIBILITY, CONCESSIONS AND TACTICS
116(12)
Why You Should Almost Never Agree to `Split The Difference'--And Other Buyer Mistakes
117(2)
A Few Self-Defense Basics
119(3)
Introduction to Tactics
122(3)
Key Points to Remember
125(3)
PART FOUR TACTICS IN ACTION: BUYING DIRECTLY FROM A PRIVATE SELLER 128(74)
CHAPTER 9: INVISIBLE NEGOTIATION IN ACTION--PART ONE
128(38)
A Visit with the Neighbor
128(2)
A Story of Perception and Legitimacy
130(4)
Face to Face with the Owner
134(3)
How to Get Maximum Leverage from Home Inspection Reports
137(6)
Do You Know the Owner's Real Reason for Selling?
143(1)
How to Respond When the Seller Offers to Reduce the Price
144(1)
How to Apply the Attractive Alternatives Tactic
145(1)
How to Apply the Stall and Jolt Tactic
146(3)
How to Apply the Comparative Value Tactic
149(2)
How to Apply the Third Party Tactic
151(3)
How to Apply the No More Money Tactic
154(3)
How to Answer the Question: "How Much Would You Be Prepared to Offer?"
157(2)
How and When to Use a Probing Statement Instead of Making an Offer
159(2)
Walking Away--The Ultimate Tactic
161(2)
Buyers' Market or Sellers' Market
163(1)
Key Points to Remember
164(2)
CHAPTER 10: INVISIBLE NEGOTIATION IN ACTION--PART TWO
166(27)
Dealing with Ten Seller Responses to Your Low Offer
166(27)
CHAPTER 11: BUYER BROKERS: WHAT YOU SHOULD KNOW
193(9)
Study Shows Significant Savings
194(1)
Types of Buyer Brokers
195(1)
Choosing a Buyer Broker
196(6)
PART FIVE: AUCTIONS 202(14)
CHAPTER 12: BUYING AT AUCTION
202(14)
Know the Property Before You Bid
203(2)
On the Day of the Auction
205(1)
How to Bid Wisely
206(2)
Understanding the Blast Bid
208(1)
Case Study: When Things Go Terribly Wrong
208(1)
Recognizing When the Auctioneer Is Going to Sell
209(1)
Shills, Stooges, and Conspirators
210(1)
Finding Out Where the Auctions Are
211(1)
No Time to Let Your Guard Down
212(1)
Key Points to Remember
213(3)
PART SIX: DIFFERENT STROKES... 216(18)
CHAPTER 13: FIVE REAL ESTATE AGENT PERSONALITY TYPES
216(18)
The Gentle Intimidator
218(2)
The Dispassionate Expert
220(3)
The Caring Conversationalist
223(3)
The Noncommunicator
226(2)
The Determined Persuader
228(3)
Agent Personality Types--Summary
231(3)
PART SEVEN: FINDING THE MONEY 234(37)
CHAPTER 14: SHOPPING FOR THE BEST MORTGAGE
234(37)
First, Know What Is at Stake!
236(2)
Fixed-Rate Mortgages (FRMs)
238(2)
Adjustable Rate Mortgages (ARMs)
240(6)
Other Types of ARMS
246(1)
Comparing ARM Features
247(4)
Applying and Qualifying for a Mortgage
251(2)
Where to Shop for Your Loan
253(5)
Loan Prequalification and Preapproval
258(6)
Other Important Things You Need to Know About Loans
264(6)
A Few High-Quality Resources
270(1)
FINAL NOTE 271(2)
APPENDIX 273(10)
USEFUL RESOURCES 273(10)
Services of Benefit to Home Buyers and Sellers 273(1)
Online Loan Shopping and Related Services 274(2)
Online Mortgage Brokers and Information Services 276(1)
Miscellaneous Recommended Services 277(2)
Recommended Publications and Software 279(1)
Resources of Special Benefit to Homebuyers 279(2)
Additional Resources 281(2)
INDEX 283

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