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I have seen some really amazing properties on eBay sell anywhere from $20k to millions. I am interested in purchasing a luxury condominium on eBay. There seems to be some really good deals on there. You must pay in full with cash. There is no financing, which makes doing a larger purchase impossible unless you've got the available funds.
I am in my early 20's and am saving my money now for a condo around $30k. I would ideally like to find one where everything is completely furnished. I have seen some listings start off as low as a penny and bid up to thousands. It's fun, but is it safe?
Have you ever bought a property on eBay? If so, what was your experience? Do you know someone who has bought a property on eBay? Were they satisfied with their purchase? Was their any problems with the transaction? Was it what the ad said it would be? I am very interested in doing this. But, I do have concerns about sending such a large amount of money to somebody I do not know. I would like to learn more about eBay real estate.
All in all, I would love to have a beach side condo. I think living in sunny Florida or a fun hotel in Myrtle Beach would be a blast. I am very young and do not have the funds to do an enticing purchase, but I still think I can tackle a beautiful beach side condo. ;-)
Yes, it sure does sound risky. I don't understand how someone can buy a $100,000,000 home they have never seen! Though, many of the sellers offer the opportunity to view the home before placing a bid. But, I do not live near the destination of where I am wanting to relocate to. There is no way I could view a property in person. Then again, I am wanting a beach side condo, and I live in Tennessee, so it would be impossible for me to view any property even if I went through an agent. There are some risks involved, but I do believe there are a lot of honest people offering good deals out there.
Last edited by Sophisticated Lifestyles; 04-11-2011 at 04:50 PM..
I would agree with the other two posters - be very very careful. If it seems too good to be true...
I've read many of the land listings on ebay for Arizona and many of them you are bidding on the down payment only. Make sure to read the fine print! Make sure you research the property yourself. The pictures and description may not be for the exact property they are selling.
I would recommend finding a well versed real estate agent in the area to help you with your search!
Yes, it sure does sound risky. I don't understand how someone can buy a $100,000,000 home they have never seen! Though, many of the sellers offer the opportunity to view the home before placing a bid. But, I do not live near the destination of where I am wanting to relocate to. There is no way I could view a property in person. Then again, I am wanting a beach side condo, and I live in Tennessee, so it would be impossible for me to view any property even if I went through an agent. There are some risks involved, but I do believe there are a lot of honest people offering good deals out there.
Quote:
I have seen some really amazing properties on eBay sell anywhere from $20k to millions. I am interested in purchasing a luxury condominium on eBay. There seems to be some really good deals on there. You must pay in full with cash. There is no financing, which makes doing a larger purchase impossible unless you've got the available funds.
I am in my early 20's and am saving my money now for a condo around $30k. I would ideally like to find one where everything is completely furnished. I have seen some listings start off as low as a penny and bid up to thousands. It's fun, but is it safe?
What kind of fully furnished luxury condo do you think you'll find for $30K? And you'll have the cash for this kind of purchase, but can't spring for a Southwest flight to wherever the place is to go have a look before placing a bid? If you're really going to do this at least do yourself a favor and make sure the building association is in good shape before doing anything. The building has to be maintained somehow you know...
Buying real estate on eBay? What's next...the real estate QVC channel?
Trusting one of the biggest financial investments in ones life to this process is like stopping into a pedicure spa and trusting that the aesthetician can perform a quick knee surgery.
It would be very risky for someone that did not know all the ins and outs of the transfer of realestate to buy a property on ebay.
I have inquired about some of them and did not receive timely responses.
There are other real estate auction websites that have better sales prices.
But again,it is not something for a beginner.
Some people put things in their listing like,buyer must sign a P+S within a certain time frame.
And when contacted seller will not reveil P+S.
And some of the bank reo P+S are about as ridiculous as it gets.
They might as well say that if you want this property you have to let us have access to any and all money you have that we will claim you must pay.
Online real estate offers at auction leaves many people yelling SCAM!
Even when they are not scams.
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