Interesting - eBay property sale worth it? - Posted by Carmen_FL

import · November 22, 2000, 1:07pm

Posted by BillW. on November 22, 2000 at 15:14:11:

I also saw this posting as well as a couple othere in Buffalo in the last 2 weeks. I decided to pass because it is just too far from where I live and I don’t know the area or the market. Any ideas out there from others who may have done any long distance deals?
BillW.

import · November 22, 2000, 1:07pm

Posted by Carmen_FL on November 22, 2000 at 14:07:21:

I saw a listing on eBay for a creative “owner finance” deal in Buffalo, NY, which I thought was kind of interesting. Has anyone thought of doing this, or has anyone done it? Any success? Any thoughts on the “technologically advanced” marketing front? I know this is a “new” thing right now … I thought I would get this site’s thoughts on it.

The URL for the listing (it’s not mine/I don’t know anything about it other than it was interesting) is:

http://cgi.ebay.com/aw-cgi/eBayISAPI.dll?ViewItem&item=503272921

import · November 22, 2000, 8:26pm

Re: Interesting - eBay property sale worth it? - Posted by B.L.Renfrow

Posted by B.L.Renfrow on November 22, 2000 at 21:26:19:

I listed one property on eBay a while back…before they increased the fee for real estate. I got a couple of inquiries, but nothing serious. I do agree with the idea of bidding on the downpayment, rather than the total purchase price.

I would suspect it might be more useful in a larger metropolitan area – such as Buffalo. Too bad it’s on the other end of the state from me.

Brian (NY)

import · November 22, 2000, 7:11pm

Re: Interesting - eBay property sale worth it? - Posted by Jim IL

Posted by Jim IL on November 22, 2000 at 20:11:19:

Carmen,
I have heard of investors using Ebay and other auction type websites to market homes.
I think this was discussed either here, or in the chat room some time back.
Frankly, it sounds like a decent way to market in addition to whatever marketing you are currently doing.
Every little bit helps.
The thing that caught my attention when it was discussed before was the “Technique” for the auction format.
Rather than auction the sale price, or the monthly payments, the idea was to let the upfront money be what is auctioned.
Of course a reserve should be set, to get a minimum amount.
But, the idea of auctioning of a home, for the highest upfront amount sounded like a good idea to me.
Seems it would create competition for buyers.

Never tried it myself, but I may at some future date.

Thanks for the link, interesting to see,
Jim IL