16 Dec What happens if you don’t get a loan at the end of your agreement, with hosts Nick Prefontaine and Zachary Beach
Nick Prefontaine and Zachary Beach explain what happens when the end of a rent-to-own lease period comes up and the buyer still doesn’t qualify for a mortgage loan. If you’re a potential homebuyer who can’t get a bank to approve you today, or a seller who wants the chance to sell to the 80% of otherwise great buyers who don’t qualify for a traditional mortgage, Nick and Zachary address some of the common concerns and fears that might be holding you back.
Glossary of Special Terms Used in this Episode:
- Lender – A bank, credit union or other financial institution that provides mortgage loans to qualified buyers
What you’ll learn about in this episode:
- Why Pre Property Solutions’s (PPS) heavy pre-qualifying process early on can take the guesswork out and find the right path to help you get approved
- How PPS connects buyers with credit specialists who outline step-by-step credit building or credit repair processes
- Why making rent payments and deposit payments on time is crucial for helping establish a good payment history and helping you qualify for a loan
- What options are available if you’ve followed every step of the process and still can’t get approved through a lender
- Why constant communication with the PPS team and credit specialists is critically important for your success
- Why good communication allows the experts at PPS to help you find solutions to any problems or challenges you might encounter
- How PPS will ensure that the seller will continue to receive their payments even if the buyer is struggling
- Why everyone’s ultimate goal should be to get to the finish line together, and why a little flexibility can go a long way
- How Does Selling My Home On Terms Work:
- How Does Buying A Rent To Own Home Work:
- Pre Property Solutions website: https://www.prepropertysolutions.com/
- Contact Us: https://www.prepropertysolutions.com/contact/
In 2003, Nick Prefontaine was in a snowboarding accident that left him in a coma for over 3 weeks. The doctors told his parents that he probably wouldn’t walk, talk, or eat on his own again. Less than 3 months later, he was running out of Franciscan Children’s hospital. Now Nick speaks to groups that benefit from his message of overcoming adversity.
Nick grew up in the real estate industry and got started at an early age. Most notably, he was knocking on Pre-Foreclosure doors at 16, doing up to 50 doors a day. This experience helped shape Nick’s real estate career. When someone opens the door you better have something compelling to say.
Now, Nick specializes in working with lease purchase buyers to get them into a home and on the path to home ownership. That includes working with them throughout the entire deal which ends in them being able to get their own loan. Getting buyers to the finish line is something Nick and the entire Pre Property Solutions team take pride in. That is something that separates them from their competition. Regardless of a buyer’s credit situation, he looks at their complete financial picture and comes up with a plan to get them into a home.
Zachary is an Amazon Best-Selling Author of The New Rules of Real Estate Investing and revised edition of Real Estate On Your Terms. He has been an authority in real estate for 7 years now and has personally completed hundreds of real estate transactions and has mentored investors to complete thousands of transactions.
At the age of 25, Zachary decided to leave the world of bartending and personally training and jump into the family business. Now he is an equal partner and runs the acquisitions department, focusing on helping sellers accomplish their goal of selling their property.
If Zachary is not working, you will find enjoying the outdoors or spending time with his wife Kayla and two kids Remi and Bellamy. His passion for family and business is what keeps him motivated and excited to take on each day.