Newsflash: [TX] – Rental to buy offer, does not feel right…

First time posting. Apologies if wrong place. My home is posted on Zillow and got the following message, and I am concerned it is a scam of some sort as I have never heard of doing this before (contact details omitted):…”Is your house still available, and if it is, would it be available for a contract for deed type transaction for a period of 12 to 24 months (at your full asking price)? You can reach me at”…The number provided is 504 area code (Louisiana), I am TX, and the email is from a yahoo account. I responded saying I was unfamiliar with this arrangement and asked for a copy of the contract or pertinent details. He sent back:”The basic details are these, This would be for the purchase of your home in which the conveyance of your deed would not be an issue. A home owners insurance policy has to be acquired naming you as a principle of the policy which will protect the structure from any damage and this policy has to be paid by me even before I set foot in your door. I have to pay all property taxes, maintenance fees, and HOA fees. You will receive a monthly payment for the duration of the agreement and when the contract has to be fulfilled, you are paid your full asking price.”Has anyone experienced something like this before? Is it legit? What is it called, rent-to-buy or something else?

Read more at https://www.reddit.com/r/RealEstate/comments/6fgnx1/tx_rental_to_buy_offer_does_not_feel_right/?utm_source=ifttt

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