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buying a house on ebay

haganah

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They used to sell co-ops on park avenue for low prices too. They just came with awfully high monthly maintenance.
 

milosz

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I'm not talking about buying one house, but a couple of blocks worth of them.

Then instead of fixing them, you demolish it all and build a new. The land should be worth something.

Security would be an issue though.
Theoretically, yes, you could build yourself a compound in the middle of Detroit - I recommend 12-foot fences and barbed wire around the perimeter.

But by the time you purchase the property, demolish and remove everything, build, deal with the city on combining so many lots, and secure your property... just buy a house anywhere else in the country.
 

jrmalone

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Believe it or not about 10 years ago, I worked with a couple of agents who sold homes on Ebay. To be clear when I say worked with, I mean they worked for the same brokerage as I did in Florida. Surprisingly, they sold a ton of homes. I remember one month, they wrote over 20 contracts. What they did was partner as investors with homebuyers looking to purchase and flip homes. To me, it sounded a little off because it seemed the buyers were taking on most of the risk, but they did very well.

A few years, I went to lunch at local diner and low and behold one of them was a waiter there. So I guess it did not end up working out that well long term. Oddly enough a about five years after that, I was looking for a mountain home in Clayton, and someone else was trying to do the same thing. I can only assume they suffered a similar fate because I couldn't find their ad anymore. The moral of the story, is be wary when things sound too good to be true.

Ebay is great for a lot of things. I for one buy a lot of boat and specialty car parts from there. But homes on Ebay, I don't know. I would advise you play it safe. If you want to purchase a home or property, get a signed contract on paper and use a title company or lawyer. That way if anything goes wrong, you have someone to hold accountable. You'd think we live in an age where all disputes of title would be resolved, but that is not the case.
 

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