First Time Buyer
Buying Property Online
There seems to be a fair amount of bidding taking place in the real estate auction sections of eBay and other similar online auction companies. Some sellers are taking bids for a downpayment, with the intention of owner-financing the property after the auction closes.
For some auctions, your bid becomes the first payment in a lease-option agreement. Other sellers are simply trying to sell a property outright.
It's a little frightening to think that someone would buy property sight unseen, no matter how inexpensive it is.
- Serious deed and title problems could exist (liens, foreclosure, other claims)
- The property could be totally inaccessible
- Structures could need massive repairs
- It might not be possible to bring utilities onto raw land and you might not even have the right to dig a well
At online auctions you will be required to register before you can buy or sell an item (s). This is required to track items you bid on or sell, keep up with the bids, determine the winning bids and build a database on seller and bidder feedback.
Tip: Setting up an online email account separate from your main email account is recommended to help you track the progress of the auction and prevent spam from coming into your main account.
Every person has a dream to buy a home where they can spend hours, relaxing and rejuvenating their body. These days, this dream can be fulfilled within fractions of second by the facilitation of internet; all you need is some investment. Once you have a clear picture of the budget and the investments that you can make, buying property becomes really easy.