Not getting or knowing the total payoff is an absolute DEAL KILLER for me.If you encounter this, go to a reputable Title Company and they are usually pretty effective in getting payoff's in these situations.Good luck,Jim Watkinswww.dfwmentor.com

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?

one of my biggst fears going into landlording is that i could encounter problems because of my age. im 18 although i really look a year or two younger. i am thinking that some tennants could be offended or resent the fact that someone significantly younger than them owns their house. im hoping that if i handle myself in an apropriate manner it wont be an issue but honestly i could easily see the problem coming up. so i guess im just looking to see what other people think about my situation

If it was the other investor would have tied it up by now, subject to the "title issue", but still tied it up.BTW, I've only ever once encountered what I considered to be a title issue (in TX) that looked like a "lot of work".

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.

Great spirits have always encountered violent opposition from mediocre minds." ~ Albert Einstein

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...

Different regulations and a ton of scamming in the commercial side.