Craigslist is one of the most popular sites when it comes to searching for rent to own homes and homes for sale. But you need to be aware of rent to own home scams!
Because scam artists know how popular the site is and they are trying to steal your money!
Here we give advice about how to use a rent to own to successfully and we discuss out scams to look out for.
Typical Rent to Own Scam on Craigslist
The thief finds a nice home available for sale, rent, or rent to own on the internet. They copy the pictures of the property and information, then they do a quick public records search for the homeowner’s information.
After this information is gathered, they create a free email account and list the property on Craigslist at a VERY attractive price. Interest begins to build and unsuspecting tenants start emailing the scam artist for more information about the property.
Here comes the give away
The fake seller then responds with an email about how they are new to selling rent to own houses or offering homes for rent. Usually they claim to have moved out of the country to preach, etc, etc.
Most will ask for you to fill out a basic application online and email it to them for review.
After the application is received the scam artist will request that the first month’s rent and deposit be mailed to them. Claiming that once the check is received, they will mail the keys to the new “tenants”.
The scam artist keeps the money and the “lucky” tenant never hears from the “owner” again.
How to avoid getting scammed
Do not get emotionally attached to a rental home or rent to own house. Especially before having seen the home or met the homeowner.
The predator is playing off of your emotions and expects you to become so excited by the once-in-a-lifetime “deal” that you drop your guard and move forward, when you normally wouldn’t. Verify everything before sending the first month’s rent.
Is it possible to get a great deal on Craigslist?
Absolutely!! You can find one everyday.
But, make sure you verify all information with the homeowner in person and sign documents before handing over any of your hard earned money.
Keep this in mind the next time you search on Craigslist for a great deal! You CAN find great rental homes and rent to own houses there. But don’t let your emotions drain your bank account!!
Good info. Lucky me I recently found your site by accident (stumbleupon).
I have saved as a favorite for later!
Michell, thanks for the comment. I appreciate the feedback! Good luck!
Its amazing as your other posts : D, appreciate it for putting up.
Shona, thanks! Are you learning about how rent to own works to try to buy or sell a home? Hope the site has helped!