What if the Market Changes Before the End of the Deal?, with Nick Prefontaine and Zachary Beach

By January 6, 2021Uncategorized

Episode 7:

Episode Topic:

What happens in a rent-to-own real estate deal if the market shifts, the property doesn’t appraise, or some other outside force disrupts things before the end of the rental period? Nick Prefontaine and Zachary Beach from Pre Property Solutions discuss the many flexible options that can ensure that everyone crosses the finish line, even if the unexpected happens.

Glossary of Special Terms Used in this Episode:

  • Appraisal – a professional determination of the value of a property, often used to set the price of the real estate for sale.

What you’ll learn about in this episode:

  • How Nick specializes in working with buyers and holding their hand through the entire process from start to finish
  • What options are available if the worst case scenario happens, including getting a new appraisal
  • How Pre Property Solutions has developed multiple strategies to deal with the unlikely situation that a property doesn’t appraise at the end of the rental period
  • Why a final appraisal value is subjective and based on opinion as much as fact, and why waiting a few months or getting a new appraisal often results in a different outcome
  • Why flexibility from sellers can be a powerful tool to deal with outside forces coming into play such as market shifts

Resources:

Nick’s Bio:
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’s Bio:
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.