September 16
Rent-to-Own Scams
Rent-to-Own can be a scam! Many companies are profiting off scamming well-intentioned buyers by selling fake listings and endorsing non-viable methods. It is crucial that you play it smart and avoid any of these sketchy offers. It is important to note that Rent-to-Own is not a scam but it can be used as a scamming tool by those with bad intentions. This article is a one-stop shop for everything you need to know about RTO scams.
Before beginning the RTO process, it is important to know if RTO is right for you! Find out here.
Rent-to-Own Listings Do Not Exist!
There are several methods to deliberately mislead people about the RTO process.
One approach they push is encouraging buyers without experience to know better to pay for listings. Never pay for listings. Even if it advertises as exclusively RTO, any listing has the potential for an RTO agreement and there is no such thing as a listing that is exclusively for RTO. No listings, whether they are RTO or not, should require payment to view.
These practices also lead to a misconception that RTO-specific listings exist. To enter an RTO, you must enter a contracted agreement with any potential seller. Our RTO Guide will bring you through the entire process, and the sample contract we provide will give you a perfect example of how to enter into an RTO agreement.
How to Spot RTO Scams
Now that you’ve seen the potential danger you may be asking yourself, how do I notice possible scam behavior before it’s too late?
Well, there are important things to notice when viewing anything relating to RTO and listings to keep yourself safe from scams.
Most sites will use the location-specific nature of real estate against you by saying something like “Free Rent to Own Listings Near You!” Remember that even if it advertises to be free, you don’t need to find RTO-specific listings, and it is probably trying to sell you something.
These pages will often have URLs tying right back to RTO listings to convince you of the legitimacy of their product. The best precaution is to avoid sites with “RTO listings” in the URL altogether.
The Right Way to RTO
What you’ve learned about Rent-to-Own may leave you wondering, is it even worth it?
All of this may sound scary and paint a picture of RTO as sketchy. This is not the case, and RTO can be an excellent option for prospective home buyers as long as it’s correctly implemented.
If RTO is right for you, how do you proceed?
You follow the guide!
Our RTO Guide is a comprehensive step-by-step guide on how to accomplish any goal relating to RTO! In this guide, you will learn how typical RTO contracts work, howto protect yourself by using an RTO contract, and the ultimate goal, tosecure your home by being ready to purchase it when the time comes.
Curious About RTO?
Let us show you how to use Rent-to-Own to find a great deal for your home.
We are on your side!
Answer a few quick questions to find out if RTO is right for you!
Check out our RTO Quickstart for a comprehensive breakdown of the process!
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