Anyone know about One America Corporation for rent to own? (real estate, renter)

[Grawburg]

Put my house on craigslist to rent and got an email from a guy in RTP from One America Corporation asking if I would be interested in a rent to own from people who would rent out home and then buy it in 1 to 2 years.

Anyone familiar with them?

[saturnfan]

Most of these are pure fraud.

Stay away.

[halln27]

Saturnfan,
Thats an absurdly blanketed statement. Rent to own or Lease/Option are alternatives to selling your home or renting it out yourself. For some, this is a viable option especially if you've got a vacant house sitting there with the mortgage getting harder and harder to pay. There are many ways to buy and sell real estate and this is one of them.

I know a lot of these type of companies are sketchy but calling all of them pure fraud is stretching it.

[dreamsncharms]

I would check it out, look on ripoffreport.co to see if they are listed on there. Also I googled the company and came up with this add this add they placed on Craigslist. Get A Home of Your Own For The Holidays With Our Rent-To-Own Program! this add leads you to a web page of their.

[MikeJaquish]

Attorney. Attorney. Attorney!
You will need representation and protection.

Rent-to-Buy, Lease/Option, Rent-to-Own mean that you are in Attorneyville. Have your own independent attorney review all paperwork, and advise you on the transaction.

Paying a Lease-Option fee, plus rent up front means you have significant money invested.
Additionally, you need to know if any portion of the rent will be credited towards the purchase price.
You will want to know how that money is handled, and what amount is placed in escrow in a legitimate trust account to help you close the transaction when you are ready to buy.

I read the page, and listened to the audio, which is also the text on the page, and did not hear any reference to inspections, appraisals, surveys, all fundamental to buying real estate.
An attorney may advise you to have documentation written into the contract of your right to those items.

Good Luck!

FWIW, The Picasa Web album and property listings have a photo of 204 Dalmeny, instead of 207 Dalmeny.
??

[Grawburg]

Mike-
I'm the homeowner, not the renter so my outlay will be zero. That being said, I agree that an attorney needs to review everything.

[MikeJaquish]

Originally Posted by Grawburg

Mike-
I'm the homeowner, not the renter so my outlay will be zero. That being said, I agree that an attorney needs to review everything.

Right.
It is made clear, although indirectly, that One-America represents only themselves, and neither of the other parties.

I suggest you ask if they actually will buy your property outright for resale, or if they take an option or contract with right of assignment, looking for a double closing.

The Wake County homes I checked that they are selling are still titled in the owner clients' names, not the company name, so it appears that it is not an outright buy.

[dreamsncharms]

Keep in mind, also it seems this company is catering to people with bad credit, I'm not sure if that would make it risky for you or not.

[MikeJaquish]

Originally Posted by dreamsncharms

Keep in mind, also it seems this company is catering to people with bad credit, I'm not sure if that would make it risky for you or not.

I would want to know the percentage of the leases that actually consummate in sales.

[galaxy78]

I am a home owner and I also have been contacted by Kelvin Bell. Does anyone has any exprience with him or about One-America. Is it oky to go forward with this kind of guys