Frequently Asked Questions

We nearly buy it all, and if we don't we know who does and can work to get your property sold. We have bought:

• Vacant Lots

• Single Family Houses

• Small Multi-family Properties (2-4 unit)

• Medium Multi-family Properties (5-15 unit)

• Large Multi-family Properties (15+ unit)

• Mixed Use

• Commercial

• Warehouses

• Parking Lots

• Recreational

Prosperity Property Solutions has dealt with many problematic situations over the years. Rest assured, if there is a problem we have not encountered we have a team of experts we work with to ensure we can solve it! Below are some of the situations we run into commonly:

• Foreclosure

• Sheriff Sale

• Divorce

• Estate / Inheritance

• Tangled Title

• Structural Issues

• Poor Condition Houses

• Fire Damage

• Hoarder Properties

• Moving out of state SOON

• Mortgage Assumption

We often get asked this question. Prosperity Property Solutions does a couple of different things with the homes, depending on where they are and what kind of work they need.

Rehab & Sell
This is known as "fix and flip" in the real estate arena. In some situations, Prosperity Property Solutions works with local contractors and business to fully rehab our newly purchased distressed properties and sell them to new families looking for quality housing. We occasionally even offer a “rent to own” solution to a family moving in and help them with their credit so they can buy it down the road.

Rehab & Keep
This is known as "buy and hold" in the real estate arena. In some situations, Prosperity Property Solutions works with local contractors and business to fully rehab our newly purchased distressed properties, but instead of selling them, we will keep them to rent out to families looking for quality housing but not the intense commitment of a 30 year mortgage.

Direct Sell
Occasionally Prosperity Property Solutions finds itself with too many projects, or with projects we may not have the ability to commit to at this time. Rather than letting these properties sit and further deteriorate until we can prioritize them, we will often sell them directly to our close friends, business partners, and contacts so they can take them on as projects and be successful.

No matter what path we take, Prosperity Property Solutions works to ensure your property will be given new life and is in great hands. Its our mission to help you unburden the problems due to this property, give your property new life, provide an opportunity for a new family to enjoy it, and improve the neighborhood at the same time, one we couldn't be more proud of.

Agreement of Sale
The most important piece of paperwork is the Agreement of Sale. This is the document where they seller and buyer agree to the terms of the sale to include:

• Agreed upon price

• Items included in the sale

• Condition of property being purchased (as-is with no repairs by seller)

• Timelines for closing

Title
Title tracks all interests in a property and tells us the actual ability of the seller to convey the property (for instance, if there is a mortgage then the mortgage company or bank has interest in the property.. this mortgage will have to be paid off by the proceeds of the purchase). "Running the Title" refers to a professional Title Company searching back through the history of the property to find any leins, mortgages, lawsuits, etc which could complicate the ability to transfer the property. A clean title, or the ability of the title to be established as clean by the proceeds of the sale, is required for the transfer of property and therefore required for Prosperity Property Solutions to purchase.

Prosperity Property Solutions strives to make you a fair offer on the first offer. We determine our offers based on multiple factors such as:

• The real estate market in the area

• Condition of the property

• Costs to renovate the property

• Time to renovate the property

• Comparable sales in the area

• Other properties we have purchased in similar shape the area

YES!

Real estate agents are not required for property sales. Such sales are called "arms length" transactions.

By working with Prosperity Property Solutions and not using a real estate agent you avoid the high commission charges, unrealistic expectations, long wait for your property to sell, and people tramping through your property that come with selling through an agent.