Are they a total scam or do some legitimate ones actually exist?

It's been my experience that proably 7 or 8 out of every ten of these "creative financing" techiques are nothing more than scams at best or alright fraud at worst.

I known him for awhile and i know hes not a scam artist or nothing like that, but im just not sure about my credit score.

Check out this site before you invest in Carlton Sheets.http://www.infomercialscams.com/scams/carlton_sheets_no_down_paymen

More that's too-good-to-be-true and most-likely-a-scam...You don't need an appraisal!

I guess it is because of my inexperience I am afraid of being scammed.

Will the guys, who lie awake at night trying to scam people, kill this procedure the way they did the lease/purchase?

noobdog1 says it all pretty well. there are plenty of shady practices going on in NYC brokerages... loopholes and such to fleece dollars from RE prospects, "application fees" should be closely examined before paying them. there are scams with "applications" that usually result to nothing other than just someone collecting your money.

Not necessarily a scam, but likely a waste of time.

i see Bill Bedor was scammed by BMRES in colorado and saw he was taking legal action...