Have your eye on the perfect rental in a historic downtown district? Or hoping for a good deal on a for-sale-by-owner house in the burbs? Heck, you might be ready to pounce on that affordable rent-to-own deal.<\/p>\n\n\n\n
Whether you\u2019re renting or buying, put the brakes on before you sign any dotted lines or plunk down any deposits. First, you\u2019ve got to do a bit of detective work and verify who owns the property.<\/p>\n\n\n\n
If the listing is fake, you could not only lose the house you want but also a ton of money in the process. Here\u2019s what to watch out for\u2014and how to confirm that someone owns the home they say they do.<\/p>\n\n\n\n
Housing scams can look real
Unscrupulous people may be morally bankrupt, but they\u2019re sometimes smart. They know how hard it is these days to find an affordable rental or a home to call your own. Buyers or renters can be so driven to get a house, they miss the subtle signs of a scam.<\/p>\n\n\n\n
This is especially true because scammers often hijack legitimate rental or real estate listings, change a few details like contact information, and then use the modified ad to lure you in. Other scammers take a more creative approach and invent listings for houses that aren\u2019t theirs, let alone on the market to buy or rent.<\/p>\n\n\n\n
Signs you may need to confirm ownership
Is the rental or purchase price too good to be true? Are there a lot of grammatical errors or overuse of capital letters? Do you notice uncommon spellings of words like \u201cfavour\u201d instead of \u201cfavor\u201d? These are all red flags that a listing is probably fake.<\/p>\n\n\n\n
Also, keep your eyes out for an accelerated application process with suspicious fees. For example, alarm bells should go off if the supposed homeowner asks for an upfront fee to pay for credit checks before you even see the property.<\/p>\n\n\n\n
And be very skeptical if you can\u2019t view a property because the owner says there\u2019s another tenant in it or there\u2019s a renovation in progress.<\/p>\n\n\n\n
Looking to buy a home? Personalize your search to find a home that’s perfect for you
Never give away your money
Be wary of owners who claim to be out of the country but will happily take your money through their \u201cagent.\u201d<\/p>\n\n\n\n
If the person you\u2019re dealing with\u2014whether online or in-person\u2014asks you for a security deposit, application fee, or first month\u2019s rent without a contract or lease, run! (And report it to the Federal Trade Commission.)<\/p>\n\n\n\n
Remember, wiring money is the same as sending cash. So if this isn\u2019t a real deal, you\u2019ll lose any money you hand over. The same holds true if you use popular mobile payment apps such as Venmo to send money.<\/p>\n\n\n\n
Do a Google image search
You might be able to find out if the listing is legit by doing an image search. In Chrome, right-click on an image and scroll to \u201cSearch Google for Image.\u201d If you\u2019re using Safari as your browser, right-click on the image and scroll to \u201cCopy Image,\u201d then paste it into \u201cGoogle Image Search.\u201d<\/p>\n\n\n\n
You\u2019ll probably see a bunch of results. It\u2019s normal for a legitimate agent to list a property on several websites to get more eyes on the listing. However, if the ad varies in price, contact information, location, or other details, it\u2019s probably a fake listing.<\/p>\n\n\n\n
Find out who owns the property
Dig into a property\u2019s ownership details before signing any lease or contract, or forking over any cash. Luckily, you don\u2019t have to hire a pro to do it.<\/p>\n\n\n\n
\u201cYou can verify a property\u2019s owner by checking the public tax records,\u201d says Cathy Baumbusch, an agent with Re\/Max Allegiance in Alexandria, VA.<\/p>\n\n\n\n
You can also try searching using the phrase \u201crecorders tax assessor\u201d or \u201cproperty search.\u201d Stick to the search results whose websites end in \u201cgov\u201d or \u201corg\u201d to avoid paying for results from for-profit websites.<\/p>\n\n\n\n
Once you\u2019ve landed on the property or tax assessor website, enter the property address and include the county.<\/p>\n\n\n\n
\u201cA local agent or title office should be able to assist if you have difficulty with finding the information online,\u201d says Christy Walker, an agent with Re\/Max Signature in Phoenix. Their services may come in handy if you find out the property is owned by an LLC, in which case, the property\u2019s owner name may be harder to track down.<\/p>\n\n\n\n
If all else fails, enlist the help of a title company. It may cost a small fee, but it might just be worth it.<\/p>\n\n\n\n
\u201cThe title company will get the most current and valid information,\u201d says Carrie Abfall, an agent with Re\/Max Real Estate Professionals in Columbus, IN.<\/p>\n","protected":false},"excerpt":{"rendered":"
Have your eye on the perfect rental in a historic downtown district? Or hoping for a good deal on a for-sale-by-owner house in the burbs? Heck, you might be ready to pounce on that affordable rent-to-own deal. Whether you\u2019re renting or buying, put the brakes on before you sign any dotted lines or plunk down […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n