Beware of Rentals "too good to be true"

While looking for a rental for a client of mine in Wildomar, I happened upon this "GREAT" property for only $700 on Craigslist: h...

While looking for a rental for a client of mine in Wildomar, I happened upon this "GREAT" property for only $700 on Craigslist:

http://inlandempire.craigslist.org/apa/1949863312.html

The low price triggered a red flag in my mind, so I checked the tax records and found that the property has been foreclosed upon. Not only that, but when I searched the MLS I found this house is currently listed FOR SALE:

http://reports2.mrmlsmatrix.com/MatrixReportServer/Output/73489/Customer_Flyer7474.PDF

There are some realllllly good scammers out there, and they continue to try to take advantage of this current real estate market. I have reported this scam to the listing agent of the property, and have encouraged him to work with local police to try to catch this person. (I LOVE a good "sting"!)

If you are looking to rent in the future, be sure to have a Realtor check the status of the property you are interested in renting BEFORE you sign any contract or give any deposit monies. This is easy for us real estate agents to do and takes us less than 10 minutes. Before renting a property your real estate agent can help you verify:

1. That the OWNER really is the owner of the property.
2. That the property is not in pre-forclosure.
3. The amount of loans that are on a property, so that you will know if the property has the "potential" to go into foreclosure in the future.

Almost everyone has a friend or relative who is a Realtor, but if you one of the few who don't, feel free to give me a call. I would be happy to check make sure that the new house you've moving into, is not one you will be having to move out of anytime soon.

Related

Rentals 7354562413048246188

Post a Comment

  1. so true so true....we do re key alot of foreclosed houses for realtors and banks and see this occasionally...one just last week....once my husband arrived to re key a house just when the renters were moving in....they had a baby too....so sad....someone had taken the foreclosure papers off the house, got the keys out of the lockbox..listed it on Craigslist and taken this young couples money....

    ReplyDelete
  2. Thank you for sharing this...it is so very sad people will rip you off like this. It happend to my sister and my neice in Hemet...

    ReplyDelete
  3. Another thing to consider and a big problem...
    all people looking to rent homes within an HOA need to ask for all CC and R's and Community Rules and regulations. While homeowners choose to be a part of such neighborhoods and know what is expected within each Homeowner's Assoc.(they can't claim ignorance on their part!) there are so many unsuspecting potential tenants that haven't a clue. So many sign long term leases and then find themselves trapped within rules and regulations they would not have accepted had they known prior. They are without privileges such as pool and facility usage all because they were kept in the dark. Landlords: present the reality of a rental home and don't make your tenants suffer...Tenants: Ask questions...lots of them! You have rights! Good luck!

    ReplyDelete
  4. was this a scam by strangers or the foreclosed owners trying to make a buck by renting it out till it officially foreclosed? Either way it's wrong...

    ReplyDelete

emo-but-icon

Follow Us































Hot in week

Recent

Comments

Subscribe Via E-mail

Have the latest articles and announcements on Menifee 24/7 delivered to your e-mail address.
Email Format
item