‘Very Nice’ Retort to Landlord Who Bought Homes Through ‘Robo-Deed’

Fox News Channel’s Guy Benson and Marie Harf take a look at the laws that govern rental-to-buy deals.

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Many homeowners in need of a rental unit can sell their primary residence and get a very nice payout. That’s a practice called “robo-deed,” in which the sale is made electronically and there’s no need for a real estate agent or a deal called a short sale.

The downside? It’s a sneaky way for a landlord to purchase a property in a way that’s illegal in many states.

“If they’re buying through robo-deed and they pay cash, it makes it harder to see who they are because it’s not recorded,” said Robert Bevelheimer, who teaches finance at Auburn University. “By law, it may be the only source of information you have.”

These robo-deeds are legal in just about every state except North Dakota, South Dakota and Arkansas. There are exceptions to the law in about 15 states, so be sure to look at the fine print.

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Fox News Channel’s Kate Bolduan (@KateBolduan) and The Most Trusted Name in Real Estate’s Brenda Buttner (@bbuttnerFOX) join Benson and Harf to weigh in on all the latest home buying, selling and rental news.

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