Homeowners stung by botched 'rent to own' scheme

A Calgary couple is warning home sellers to beware of real estate rent to own schemes, where unlicensed agents offer to find buyers to rent or lease to own homes.

“It sounded exactly like what we were looking for,” said homeowner Maxine Henry. “But it was awful, and you feel awful for having been duped into such a scheme.”

Several new websites have surfaced in the last year offering to put sellers and buyers together in rent or lease to own deals, similar to automobile leasing.

It appears they are increasingly attractive in tight markets across the country, for owners who have trouble selling and buyers who can't get conventional financing.

Read more: http://www.cbc.ca/news/canada/british-columbia/story/2013/02/08/bc-renttoown.html

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