This scam has crisscrossed the United States for a few years now, but I want to make sure my clients and readers are aware of it. In short, scammers taking advantage of hard economic times are offering houses for rent on the classified ads site at rents well below market. Unsuspecting renters, elated by the great deal, wire their security deposit, first month’s rent, and even a rental application with valuable personal information, including their social security number. Before they know it, their money, and possibly their identity, have been filched.

What makes these ads seem so legit? The scammers go online to find houses for sale and appropriate a house’s description and pictures to create a Craigslist ad. They then use tax records to find the name of the owner and create a fake email address using the owner’s name. The back story in the ad explains why the rent is so low: the owner has been called away overseas (usually to one of Africa’s countries) for a period of two to three years and needs someone to take good care of the house while he or she is away. This story also explains why the owner is unavailable to show the house to the potential renter.

Moral of the story: Deal locally with people you can meet in person. According to Craigslist, this one rule will help you avoid 99% of scam attempts on Craigslist. Another rule to live by: never wire money to foreign countries. Anyone who asks you to do so is a scammer. Be sure to meet a leasing agent or owner at the home you hope to rent, and get a copy of the rental agreement before you exchange any money.

If you come across a fishy listing on Craigslist, be sure to flag it using the “Avoiding Scams and Fraud” link at the top of every page.

Finally, if you have already been a victim of a scam, the Federal Trade Commission recommends filing a police report and checking your bank accounts and credit reports regularly.

Have you come across scams like this in Craigslist’s Indianapolis rental listings? Share in the comments! And, as always, feel free to email me with any questions!

If you decide to put your house on the market and wait until it sells, you reduce your financial risk (who wants to make two mortgage payments each month?), but you also run the risk of settling on a new home since you end up having such a constrained timeline in which to move. The other option is to move into temporary housing until you find the perfect home to buy, but of course, that entails moving twice, which is never fun.

What about finding your dream home first and then placing your current home on the market with the hopes that it will sell quickly? This approach is certainly possible, but it takes some strategic planning. You may think that making an offer with a contingency that your home sell first is the way to go, but sellers tend to frown upon these kinds of offers.

Instead, this is how I counsel my clients. First, spend the time to get your home in tip-top shape so that it is ready to sell (check out my pre-yard sign tips). Only once it’s in perfect selling condition, set out with your Realtor to find your new home. When your offer is accepted on a new home, put your current home on the market. If your home is priced right, marketed extensively and in great showing condition, you should be able to sell it within 30 days. Of course, this approach requires a bit of a leap of faith, but it can mean having to move just one time.

Only you can determine which is the best approach for you and your family. Both approaches require work, patience and flexibility. What buy/sell strategies have worked (or not worked) for you? Comment below!

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