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Richard Courtney thinks everyone in real estate is just a bunch of liars.

He's entitled to an opinion on that topic; he's a Realtor. In his new book, "Buyers Are Liars & Sellers Are Too! The Truth about Buying or Selling your Home" (Fireside Books, $14), Courtney exposes all, even conceding that real estate agents, like eager sellers, have been known to misstate facts when trying to close a deal.

Courtney, a Nashville resident, gives readers a realistic and chronological idea of what it takes to buy or sell a house. He has tips for selecting an agent, improving a listing, making an offer and surviving an inspection. The veteran of 26 years in the business delivers the real estate information in a funny, sarcastic and irreverent approach. Still, I found him knowledgeable and his advice sound. And he's fun to read.

In his book, Courtney describes the top 10 lies in real estate:

10. The truth-in-lending statement reveals the loan's true interest rate. The truth-in-lending statement discloses the annual percentage rate (APR), usually higher than the interest rate. The APR can include fees such as discount points, origination fees and prepaid interest.

9. Buyers and sellers can expect counteroffers. Many deals come undone when a seller thinks the prospective buyer expects a counteroffer. If you receive an acceptable offer, accept it!

8. A clear termite letter guarantees no termites. Termite inspectors can only inspect what they can see -- and they can't see inside walls. Always assume that the house has termites and treat the house as soon as you buy it. The cost of treatment will save you a much greater cost if damage occurs.

7. You don't need your own real estate agent. Buyers should never listen to listing agents who say they can handle both ends of the deal. Every party needs their own representation.

6. The basement never leaks except in the case of a hard rain. If you buy a house with a basement that shows signs of leaking, it is going to keep leaking no matter the weather until you get it fixed.

5. The appraisal establishes the actual, definitive value of the house. The market, and the market alone, determines the value of a house. So when the market speaks, the appraiser should listen. If a house is under contract for $100,000 and the appraiser says it is not worth a penny over $95,000, get a second appraisal.

4. The buyer's loan is approved. Even if a buyer can produce a letter from a lending organization saying that their loan has been approved, they could derail the transaction by making choices that might affect their credit report right up to the closing. A seller shouldn't consider a buyer's loan approved until a check is in hand at closing.

3. Advertising sells homes. Advertising gives your house exposure, but no one has ever bought a house just by reading an ad.

2. All houses are priced 10% over the price the seller is willing to accept and there is always a cushion. Most houses are priced based on recent comparable sales. Overpricing a house can harm its chances of selling at a good price, therefore most houses are listed for the true market value of the home.

1. I can't afford that house. Yes you can. Read the book.

Or at least that's Courtney's take on things.

While Courtney may not be able to convince you that you can afford any house out there, his advice could help you get into -- or out of -- a piece of real estate.

Contact SUZETTE HACKNEY at 313-222-6614 or shackney@freepress.com.