Neophyte asks about Craigslist ads

[Amy H.]

I am looking to acquire single family properties for "buy and holding". I'm very new to it, so am trying to understand the best methods to find properties. Of course, Craigslist is one of the first things to come to mind. I've done some reading about it, though, and see that many of these ads are scams  -such as wholesalers offering properties that aren't really available simply to generate lists of potential buyers to whom to sell to in the future or to simply sell the lists. However, I'm still not sure I have the hang of what to look for in a Craigslist ad.

There is an ad currently listed for a 3/2 in a Dallas suburb for what seems to be an exceptionally low price. It does not list the address of the property, or a direct contact for the poster. If you click "reply", it gives an email address that [email protected]. The ad does give a nice description of the property and ends like this: "Great investment property, market values expected to rise 4.5% in 2016. Priced for quick sale -Quit claim deed issued, ownership rights and possession are immediate."

I would so appreciate anyone willing to take a minute or two to give me an idea of what I'm looking at:  Genuine ad or bait-and-switch, list-generator, etc.

[David Dachtera]

Regardless of what the seller says in a Craig's List ad, you can always ask that the seller provide a warranty deed at closing. If they balk at that, well, there's your answer to the questions...

For the benefit of newbies reviewing this thread, a "quit claim" deed only says, "if I have any rights to this property, I give them to you". A warranty deed says, "I have rights to this property and I grant them all to you."