I agree with the below responses. Possibly not a scam because of management companies was my first optimistic thought. However, with all the forclosures and fraudulent stuff going on, I agree with you having reason to be skeptical, Chelley. We have seen on this forum that tenants are being evicted because they paid their rent but the owner didn't pay the mortgage. When people are in financial ruin, they get desperate and do things they might not otherwise do. What good is a rental agreement with a theft?

I'd check with your court house to see if the builder or current owner have any bankruptcies, lawsuits or foreclosures on their records. I would also ask the builder what the situation is. If he is acting as a management company, you could always ask to see his management agreement to give you piece of mind.

Good luck and let us know what happens.
Ruth

Not sure it is fraud....just sounds like a business deal to me. Why would you think there is fraud involved?
Maybe an investor bought it from him once he had it leased?

He maybe an agent and helped the new owner lease the property to you. I have to agree with Tom in the fact that they need to follow the lease.
I am not a laywer and if you need to talk to one I have a contact her in Austin,
Good luck,
Jeff

There are plenty of possibilities. None of them include "mortgage fraud", since he's leasing to you, and didn't get you a mortgage... right?

It could be possible but I need more information. To me this is a legal question, so you better consult with a lawyer

Builders transfer ownership all of the time.
And can someone lease a house they don't own? Of course.... management companies do it all of the time.

What I haven't seen here is how you could be scammed. You have a rental agreement.... as long as they abide by it you should be fine.

Good luck.

it is common for a builder to trasfer ownership between a company and partner, so it may be legit or you may be facing fraud. i would call the owner and or company and ask 1 or both. look up the companies name with your states secratary of state to see who the owners are. good luck working it out...

Chelley,

I would need more information about the particular community as this sounds odd...the builder sold to another individual and then proceeded to lease the house under his (builder's) company name?

Is it possible the title was transferred to the builder's partner who is a partial owner of the leasing company?

Thanks,

Jolie Lindholm
Red Reef Realty Inc. http://www.redreefrealty.com
http://jolielindholm1.point2agent.com
561.756.2363 (cell)
AIM: Redipad2
SKYPE: Jolie.Lindholm