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Updated over 5 years ago on . Most recent reply

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Neil Aggarwal
  • Lender
  • Richardson, TX
228
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537
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Investor offering lease purchase, is this a scam?

Neil Aggarwal
  • Lender
  • Richardson, TX
Posted

I have a house available for rent.

I got a call from an investor that says he has a buyers pool and they can buy the house from me on a lease purchase. The buyer will pay my full asking price, I collect rent for 12 months and then the buyer closes on the house with their own financing so I get paid in full.

This seems too easy so it has to be a scam.

Can someone explain what they are doing?

Most Popular Reply

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Chris Mason
  • Lender
  • California
10,791
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Chris Mason
  • Lender
  • California
ModeratorReplied

Pure speculation to follow. 

I bet he's collecting an upfront nonrefundable option fee or something from the tenant ("buyer"), I bet the tenant doesn't qualify for a mortgage, and I bet that they still won't qualify in a year.

  • Chris Mason
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