Home Buying in 34689>Question Details

courtney, Home Buyer in Spring Hill, FL

I'm interested in a home which a company is offering a rent to own option. It appears the owner still has title to the house and its in foreclosure.

Asked by courtney, Spring Hill, FL Sat Dec 29, 2012

How can i confirm the company owns the home and isnt' scamming me? What documents can i ask them to produce to prevent a scam?

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Answers

4
Absolutely contact an attorney or at a minimum pay a Title company to search to verify the current owner and the amount they owe on their mortgage. If they owe more than the property is worth--run. Otherwise it will be the equivalent of paying above market rent and having to make all repairs, too! Eventually the Seller may then do a short sale and you will have Realtors and their clients coming through the house, too!

If your credit is the issue, try the Bank of America NACA program to help you get back on track.

In the meantime, pay your penalty and rent the least expensive property in a safe apartment complex.

If you lack the downpayment but have good credit, we have State of Florida Bond money that can get you up to $7,500 towards your downpayment and closing costs.

Contact me and I'll send you the details... you'll need a 640 or higher credit score to qualify..

All the best,
Alma
Alma Rose Kee, PA
http://www.SoldOnTampa.com
Future Home Realty
0 votes Thank Flag Link Sat Dec 29, 2012
Hi, I recommend your paying a local attorney experienced in residential real estate to research the property and advise you . See all listings and get free valuable information at
http://www.buy-sell-rent-florida.com Julie Rosenthal, Broker, ABR, GRI, EcoBroker, TRC, CAM
Property Brokers International julier6789@gmail.com (561)827-6789
0 votes Thank Flag Link Sat Dec 29, 2012
It's possible that the current owner purchased it as a foreclosure & the county records haven't been updated yet. I've seen that happen many times. Or they could be attempting to harm someone. Ask when the property was purchased & if there is a mortgage on it.
0 votes Thank Flag Link Sat Dec 29, 2012
You need to check the recorded deed and see whose name it is in. You can the check for foreclsoure filings at your registry. There are many scams and when it sounds too good to be true ,it usually is.
0 votes Thank Flag Link Sat Dec 29, 2012
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