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OT: Using an Escrow Service


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I have a friend who is moving to New York City from Columbia Missouri. He has found an apartment in NYC, great deal, beautiful place, being leased out by owner who lives in London.

The owner wants $1400 deposit (two months rent) before handing over the keys to the place. That would be all well and good except he hasn't been into the place yet. My friend is going to NYC this Thursday but the owner is unable to grant him access to the place, holding the only keys in London and does not have anyone to open the doors.

I suggested he use an escrow service to hold the money until both parties agree that the apartment is a good idea. Obviously sending $1400 across the pond to someone he has never met for a place he has never seen is a bad bad BAD idea.

Have you guys any experience with escrow services? Any other suggestions? Any escrow service recommendations? I have been looking at escrow.com and iescrow.com

Thanks guys. This has always been the best place to ask for help with the most random questions.

P.S.... how many times did you think I was asking about escort services?

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justin I am sorry but 700 dollars a month sounds like a scam to me for anything even a single room studio apartment in nyc right now. its around 1500 for the cheapest single room studio (closet) in nyc right now. My brother pays 2000 in a coop with 2 other people for a 3 bedroom apartment.

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look up the property on the NYC website under property taxes and see who the owner is. These property records are public information. If the owner of the property does not match the name you are dealing with you have a number of possible problems. There could be sub leasing involved or actual ownership issues.

How was the lease going to be executed if there is no agnet in the US.

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All good and valid points, things I have mentioned to my friend. Love the idea of looking of the property records, thanks! I'll send the message over to him.

I also agree, it sure is cheap. Though, I can see it being possible. When I lived in San Francisco, I rented a one bedroom place with a living room, full sized kitchen and a bathroom off the entry way for $550/month.

http://www.rentalsonline.com/rentalpropst.asp?cid=20568

I dug up some more on it, looked up the owner and yeah, the listed owner is not an Antonio but a lady named Natalie who is selling her co-op for $249,000 with maintenance fees at $750. Wow! Someone is pulling a scam for real.

1 Bedroom for Sale on Austin Street - Forest Hills, NY 11375

1 Bedroom for Sale on Austin Street - Forest Hills, NY 11375-1

1 Bedroom for Sale on Austin Street - Forest Hills, NY 11375-2

I guess when things are too good to be true... they really are!

Thanks for the help guys.

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