Wednesday, April 14, 2010

Real Estate Book: Question for Chapter 3-The Role of the Internet

Q: I have heard that you can actually buy and sell homes on ebay? Given all the documents I had to sign when I sold my home a few years ago, how can it be possible to transact on eBay?

A: EBay is one of the most highly visited internet web sites to conduct commerce. EBay has a real estate fixed price ad section in addition to the typical auction format.
My experience with eBay has been positive in attracting a great deal of traffic and interest in my listings.
As a seller on eBay, be sure to use plenty of photographs and its best to have a recent appraisal, pre-sale inspection reports and related seller disclosures available for prospective buyers.
As a buyer for real estate on eBay, form an alliance with experienced field partners in the locations in which you want to purchase real estate. When you find a target property on eBay, ask your “field partners” such as a Realtor to visit the property and assist you with your due diligence prior to closing the transaction. Use a local purchase contract with the appropriate contract contingencies to protect your rights as a buyer.

No comments: