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I completely agree and thank you for the advice. I'm not leaving this to chance. I think the only thing I'm on the fence about now is if she does close at the end of the month and we're still looking would we sign a lease with her? Do I really want to get into a long term business relationship with someone who thinks this is a good plan? My wife loves the house and the pickings are slim, so I *may* consider it and chalk this up to ignorance. But I wonder what kind of arrangements this woman is going to make when I call her up in January to tell her the pipes froze.
It's not unusual for someone in contract to buy a house to try to line up a tenant before they close. I've done it; many others have too. Any lease, however, needs to correspond to the actual time of ownership--so it needs to be in effect after they close. If she demands a deposit, put $20 down and contract to pay the balance after her closing. Of course, that still doesn't deal with your immediate problem of wanting a place to lease now.
My mind was going there too, but I think this might just be a case of a rank amateur getting into the rental property business. I haven't met this woman, but my wife has - my wife's spidey sense is pretty strong. I think she'd pick up on scammy vibes, but yes, whether it's malicious or just plain ignorance the arrangement this woman is suggesting seems highly unethical to me - dunno though. I'm not the real estate expert. You all are.
No offense but you need to be an expert on this subject. This is your money and nobody loves it more than you do. I wouldn't exchange any money prior to having proof that she has closed on it. Deals fall apart all the time. So start doing your due diligence on this matter. She will have closings docs that prove she owns it at closing. Why not check the property tax records for the current owner and flat out ask them if they under contract with this woman? That will eliminate the scam angle. Then you are just dealing with a person who is trying to kill two birds with one stone.
Total scam. Run, do not walk to the exit.
Here's a possibility: The people who actually own the house are on an extended stay out of the country. Sound familiar?
Call DMV and explain and ask what to do to establish residency. In SC you just have to show up.
Well, this woman showed my wife the house today - so if it is a scam, it's an elaborate one, and I probably stand to lose some serious cash ... maybe instead of dealing with a budding amateur landlady I'm dealing with a seasoned professional con artist.
OP, how did this woman show your wife a house that she doesn't own? Was she with her real estate agent and that agent let them into the house? (Honestly, if I were the ACTUAL owner of the house, I would be a little annoyed that a prospective buyer is bringing in prospective tenants when it's not even her house yet!)
And unless the woman is buying the house as an investment property, her lender will get very peeved if she rents it out from day 1. (Interest rates on investment properties are normally higher than those on one's own residence, and one of the items you sign at closing is a statement that you will be LIVING there.) Just one more thing to consider.
You could talk to the landlord's real estate agent, or, better still, the agent for the person selling the house, and make sure your contact is really buying the house.
I'm by no means a veterinarian,but I know a rat when I see one. This scenario is a typical scam in my area. Usually the tentative 'owner' has to be out of the country due to their humanity efforts so they want a quick deposit and off they dash. So far our police have gotten wind of these scams and have alerted the public.
Our area (county) requires all landlords to be licensed and all homes inspected by building code authority to certify occupancy and fire codes. Private landlord ,tenant agreements still follow county regulations.
You could talk to the landlord's real estate agent, or, better still, the agent for the person selling the house, and make sure your contact is really buying the house.
At minimum, this. I assume you've at least confirmed that it is actually for sale? The listing agent for the house may not be able to tell you who the soon-to-be owner is straight out, but if you tell them that you were offered a lease from such and such they might be able to confirm if that is actually the person buying the house.
But also this:
Quote:
Originally Posted by karen_in_nh_2012
OP, how did this woman show your wife a house that she doesn't own? Was she with her real estate agent and that agent let them into the house? (Honestly, if I were the ACTUAL owner of the house, I would be a little annoyed that a prospective buyer is bringing in prospective tenants when it's not even her house yet!)
If they were not with the real estate agent when she showed the house, I'm guessing it's a scam.
At minimum, this. I assume you've at least confirmed that it is actually for sale?<>
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