Sell Home Fast! Florida Rent to Own Home Available properties Contact us Who we are What we do How we can help Our Mission Answers to frequently asked buying questions



10 Common "Tricks" Scammers Use to Steal Your Hard-Earned Money And Your Dreams of Home Ownership….Don't Be a Victim!

Ivan and Levette Wheeler of Sanford, Florida, fell victim to a company pretending to offer legitimate rent to own home ownerhip opportunities.

The Wheelers did lose their hard-earned money. The Wheelers did not, however, lose their dream of home ownership.

What happened?

According to the Wheelers, "…[we] actually got suckered into a scam and lost $1200 to a fraudulent company that promised us a home of our choice and price."

"After losing $1200, our trust level dropped significantly and we became very skeptical about the so-called 'Lease to Purchase' or 'No Credit, No Problem - Own Your Home Today!' schemes."

If you are exploring lease to own, you must be aware what you're up against.

You don't have to take unnecessary risks. Unfortunately, a weak real estate market creates more opportunity for gimmicks and scams. Investors who cannot "flip" their properties are desperate; on the other hand, many home buyers with damaged credit - who are unable to get a home loan right now - are equally desperate.

"We heard all kinds of crazy things, Ms. Wheeler stated. "They sounded sincere and seemed interested in wanting to help us."

To avoid getting ripped off or falling for a costly gimmick, the Wheelers offer the following advice:

1. Confirm ownership of property offered as rent-to-own. - Who really owns the home offered as rent to own. Confirm "your" new home can be offered as a lease to own.

2. Don't fall for the "We're not Realtors" line. - Why is it that many real estate investors without a real estate license and without any accountability for misleading comments or actions think it's okay to state, "We're not Realtors?" Hmm.

3. Beware of FSBOs (For Sale By Owners) Offering Rent-to-Own. - Unfortunately, some well-intentioned "For Sale By Owner" sellers now offering rent to own can cause you a legal nightmare…unintentionally perhaps. They don't know what they're doing.

4. Don't fall for the "I'm a Realtor; I can help you" line. - On the other hand, Realtors want to get paid. Some Realtors will claim expertise in any type of real estate transaction just to get a commission. Does the Realtor specialize in lease to own home opportunities?

5. Get the future purchase price in writing. - This is BIG…don't accept a contract with a TBD future purchase price. Lock it in before signing anything.

6. Read all paperwork very carefully before signing. - This is self explanatory. Pay a real estate attorney to review the contract and advise you. If it's a great deal, it will be there in a couple days.

7. Don't Rush. - Again, this is self-explanatory. However, some professional sales people try to create urgency. Sign now. Give money now. Take your time…don't rush.

8. Do the math. - Can you afford the home you desire? Many investors are setting people up for failure by advertising very low monthly payments, luring victims to failure. The investors know the low monthly payment advertised will get interest. They also know that the interested people probably won't be able to afford the payment at the end of the lease term. Presto, they get the house back and keep the money. Nice racket, huh?

9. Separate the facts from the BS. - Ask lots of "What if…" questions. What happens if you're not able to get financed at the end of the term? What happens if the house is worth more at the end of the lease term than the price on which you've agreed? What happens if the house doesn't appraise for the agreed-upon sales price?

10. Don't fall for the "rent credit" gimmick. - It's a GIMMICK, if not a scam with some "rent to own" people. How? First, the monthly payment must be comparable to the monthly payment paid by a person with a mortgage or the underwriter will not accept it. Second, the $200 monthly rent credit x 12 months or $2,400 is simply added to the already inflated sales price. It's a forced savings plan with money paid "upfront."

Don't get ripped off, and don't allow the scammers to steal your dreams of owning your home.

Whether scams or gimmicks, you need to be aware of what some opportunists are doing to steal your hard-earned money while boasting they're not licensed (meaning, you can't go after them when they take advantage of you).

As for the Wheelers, they found their dream home as rent to own, and recently closed, with the house in their names and over $50,000 in equity. They BEAT the scammers by staying persistent...and not giving up.

You too can find the "right" opportunity, allowing you to become home owners. In the meantime, fix your bad credit FREE @ Credit Repair | Fix Your Bad Credit Now....

...while leasing to own your home in Florida @ Buy a Home in Florida.  


Rent to Own Your Florida Home || Florida Rent to Own Homes || Florida Lease Option || Florida Lease Purchase || Sell a House ||  Sell Your Florida Home Fast  || Available Homes || Contact Us
Special Partners  || Free Special Reports  || Site Map ||  Home
|| Privacy Policy || Credit Repair Help || Free Credit Repair

All Rights Reserved.
Reproduction in whole or in part without express written permission is prohibited.
Violators will be prosecuted .

Every effort is made to provide accurate information to home buyers and home sellers, though accuracy is not guaranteed.

© Copyright 2004-2007 aSOLUTION4you