More than 82 percent of Americans do not qualify for a conventional mortgage. Life events such as bankruptcy, insurmountable medical bills, divorce and career changes can be major roadblocks.
Pre-Property Solutions, based in both Newport, RI and Northboro, MA, has expanded its “Rent to Own” division that offers an alternative. The enhanced program helps home seekers with poor credit, no credit and/or a limited amount to invest.
Pre-Property Solutions are not loan brokers, bankers, real estate agents or selling homes for someone else. The company are the owners or have a legal equitable interest in the property.
Chris Prefontaine, Managing Director of Pre-Property Solutions and a 24 year veteran in the real estate industry, notes, “We offer an avenue to home ownership that most are not familiar with. This is a solid, proven, step by step process to help Massachusetts and Rhode Island residents achieve their home ownership dream. We have helped dozens of families achieve home ownership and we are anxious to assist others.”
The “rent to own” program is straight-forward. The buyer deposits 3 to 10 percent of the home’s market value price. Pre-Property Solutions then connects the buyer to a third party credit repair consultant who works with the buyer to repair their credit situation. Typically, the buyer is able to qualify for a conventional mortgage within 9 months to 5 years.
During the credit repair process, often times a portion of the rent payment is applied towards the purchase of the home.
The rent to own program hinges on the fact that Pre-Property Solutions is a private real estate investor who buys and sells houses. All properties are either owned by Pre Holdings or the company has a purchase contract and/or option with the owner of the property, which Pre Holdings may assign to third parties or retains. Pre Holdings is not a real estate brokerage and does not provide realtor services to the public, or to any of the parties to which it has contractual relationships.
The company works with sellers who are flexible on price and terms, or who may be stuck with over leveraged homes and behind on mortgages. Some sellers are in no hurry and just want top dollar and happily work with their terms.
Pre-Property Solutions in some instances even pays cash for the home and can close in about a week if that best suits all parties. The goal is to create a win-win purchase that is good for everyone.
Pre-Property Solutions donates $100 of every home sale to the Franciscan Hospital for Children in Boston in the name of Nick Prefontaine, the son of Chris Prefontaine, who continues to benefit from their great work and who works in the business with Chris.
Pre-Property Solutions are members of the Newport County Chamber of Commerce and Better Business Bureau. The company maintains an A+ rating with the Better Business Bureau.
Pre-Property Solutions maintains two offices, one at 580 Thames Street, Newport, RI and another at 360 Church Street, Suite 230, Northboro, MA.
For more information about the Pre-Property Solutions and the “Rent to Own” program, call 855 667 7336 or visit www.prepropertysolutions.com.