There are several ways to find rent to own home listings. Craigslist is a popular site, which means more people to scam while searching for rent to own houses from a scam artist’s point of view. You need to be aware of the dangers of rent to own home scams.
Renting to own is buying a home and buying a home is an emotional purchase. All emotional purchases come with added risk because scam artists prey on emotions to steal your money.
Don’t fall victim to this typical Craigslist rent to own scam:
The scammer takes a legitimate house listing for a nice rent, sale or rent to own posted on the internet. They steal the pictures of the house and property along with the information. After a quick internet search they gather the public records available including the current homeowner’s info.
Armed with these pictures and information they create a false property listing on Craigslist under a bogus email for a very low price to create lots of interest in the property quickly.
Innocent people searching for rent to own properties email the con artist for more information or to express interest. Here is where it goes bad…
The fake seller then responds via email claiming to be new to selling rent to own houses or offering homes for rent. The next part is they claim to be out of the country. Since they are away they ask that you complete a basic application online and email it to them to be considered.
Here is the alarming part, they congratulate you on being selected as their next rent to own tenant. Once the application is received, the scam artist will request a deposit and the first month’s rent to be mailed or wired to them. They claim that they will mail you the keys as soon as they receive payment.
Sounds good right? Sadly, the scammer steals your money and you never get to be the tenant because they rent to own and it’s “owner” disappear.
Don’t fall for this or any other rent to own scam. Be safe and smart, search for rent to own homes available through a legitimate website that specializes in rent to own real estate.