If you are interested in buying Kentwood MI real estate, but your credit is holding you back, you should know not all hope is lost. If you need to sell Kentwood Michigan real estate, don’t overlook private real estate investors. Experienced Michigan real estate investors can help both buyers and sellers.
The Kentwood MI real estate market is located just to the south-east of Grand Rapids. In fact the Kentwood city government was originally created, because residents did not want there area to become a “part” of Grand Rapids. Many small suburbs had been “absorbed” by Grand Rapids and Kentwood Michigan real estate owners wanted to avoid that.
The total area covered by the city is about 21 square miles. Many residents work in Grand Rapids and the surrounding area. X-Rite, manufacturers of materials related to photographic imaging and quality, is located within the city and is a fairly large employer.
According to the most recent reports, property in the Kentwood MI real estate market is selling relatively well, particularly when compared to other areas of the state. Many deals are closing lower than the original asking price, but at least they are not many foreclosures. The Kentwood Michigan real estate market is a little slow, but not as bad as some other markets. However, if you need a quick sale for any reason, we may be able to help.
Currently, the median price for Kentwood Michigan real estate is around $160,000. Median prices can be misleading, as the asking prices on some properties are much less and much more on others. Real estate agents and others in the market use the median price only to get an idea of the “middle” ground.
If you are currently renting property in Kentwood, Grand Rapids or the surrounding area, you could probably afford a mortgage payment. Interest rates have been very low lately. Credit problems may make it difficult for you to qualify for these low interest loans. But, real estate investors like us may be able to assist you in buying one of the homes in the Kentwood MI real estate listings or something similar in another area.
Our plan is known as a lease option agreement (aka rent to own). Many sellers in the Kentwood Michigan real estate market will offer or advertise a lease option, but if you do not qualify for financing because of little established or bruised credit, you still cannot buy their home. In fact, they may not even let you rent it. However, we can assist you even with no bank qualifying upfront.
When you sign a lease option, you pay an option consideration of a few thousand dollars. This gives you a real option to buy the Kentwood MIchigan real estate at a later date. People use lease options if they need more time to come up with a downpayment…if they are not sure that they want to buy in the area…and for other reasons.
If you are suffering from bruised credit, the lease option agreement (aka rent to own) puts you into a home that you want, while giving you time to correct your credit problems with our assistance and credit repair programs.
The whole process may take several months or longer, but during that time you are no longer throwing money away on a Kentwood MI real estate rental. You are working towards buying your own home and investing in your future. terra hill