MY PROBLEMS are over! A really nice man in Nigeria is sending me half of his hot $20m because he's heard I am a trustworthy fellow – he obviously doesn't know I'm an estate agent.

All I have to do is send him my bank details, copy of my ID and a few hundred quid to cover the expenses of the bank transfer.

Wow! I'm rich at last, along with thousands of others worldwide tempted by this scam, now an everyday event on the internet.

There are more subtle scams around at the moment and an industry is growing up around the 'sell your home and rent it back' market which can exploit desperate homeowners deep in debt but anxious to stay in their homes.

This unregulated market has nothing to do with estate agency as agents have to declare an interest if we buy a home and are duty bound to advise that they seek a valuation elsewhere.

On the promise of security of tenure and a low rent, many unwise homeowners are tempted into accepting an offer for their homes way below market price and subsequently face being evicted on a technicality, allowing the new owners to sell at a huge profit.

As the credit crunch bites and more of us get into difficulty with our previously unlimited credit this type of exploitation will increase, especially if homeowners are spooked by ever-ongoing predictions of a crash in house prices which in reality won't happen.

I have to say that if anyone approaches you to buy your home, get your local estate agent to give you a free valuation as opposed to the hundreds of pounds charged by some of these companies whether they buy or not.

If you have a conventional home most estate agents can probably give a fairly accurate figure over the phone without actually seeing it.

Do this with a couple of agents not known or connected with your buyer and you should end up with an accurate 'ball park' figure of what it's really worth and it may be a good idea to tell the estate agent what you plan to do – he will probably say "Don't do it!".

Always use YOUR OWN solicitor, not one recommended by the buyer, to check out any future rental agreement and ensure your rent is paid promptly by direct debit so that payments are not missed or 'forgotten', giving the new landlord powers to evict and sell on.

At the end of the day it is your decision, but please seek advice before doing this as anything that sounds too good to be true normally is.

* Ron Kennor is general manager of Robinson Jackson estate agencies. He can be contacted on 020 8316 6200.