online land auctions?

Discussion in 'Homesteading Questions' started by lizzylea, Feb 3, 2005.

  1. lizzylea

    lizzylea Member

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    Hello,

    This is the first time I've posted, though I've been reading through threads for a couple of weeks. I noticed that a lot of people mention buying land on online auctions like ebay, overstock land, etc. I've been looking through ebay land listings and some of them are very interesting, but I'm leary of spending that much money over the internet, not to mention buying something as important as land based only on the sellers description and some pictures. Does that sound paranoid? Has anybody out there had experiences buying land on ebay (or any other online auction). Was it a good or bad experience and why? Thanks for any info. There seem to be a lot of potentially good deals there, I just want to know if anybody else has tried this route.
     
  2. Windy in Kansas

    Windy in Kansas In Remembrance

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    In my opinion you are showing common sense and should never buy land without investigating it thoroughly whether on line or not.

    Many here will tell you that they learned the hard way that you should always have an attorney represent you with any land legal proceedings.

    Welcome to the forum.
     

  3. Cosmic

    Cosmic Well-Known Member

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    All depends, the prices seem to be low. What exactly you are buying is anybody's guess.

    This idea a lawyer is some sort of protection is pure bunk. I can show you properties within a stone throw of each other selling for wildly different prices (like factors x10 ... x15) and for very good reason. Your typical legal beagle doesn't have a clue. You the buyer must have the basic sense of fair / foul. Them lawyers just add to the expenses and will screw a real nice deal, if you are not careful. I have written plenty of contracts and understood each to the hilt. I am not a lawyer and don't let them run my life. Just sold my house without one.

    I took a quick look at those internet sales. All really out in the boonies in the west mostly. If you have ever been in some of them places, should understand it is all about water or the lack of the liquid sustance. 20 acres for $0.50 and no water or a prayer of ever getting any, is a screw job.

    If it seems to good to be true, probably is........... :D

    Unless you know exactly why the logic supports your position. ;)
     
  4. bethlaf

    bethlaf Homegrown Family

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    online auctions are risky, i have a friend whos a used car dealer, case in point, he has gotten taken so many times, its not funny ....
    now that said, i have purchased land through this forum , on the barter board, and sold it here too,in fact we have more for sale on heren ow
    i would much rather go to the area im looking for and search out owner fin. rather than look at those auctions,


    if you need a neutral opinion, go and visit your banker, and tell them youre looking at an online auction to buy land, and see what happens to thier face, and how quickly the loan forms get whisked away .....
     
  5. Dreams30

    Dreams30 Lady Rider

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    We did almost as bad as an online auction. We found our property on the united country website and used usgs maps and arial photos to make a decision. We made the offer and closed on the place without ever "walking" it.

    It has been the best gamble we ever took.
     
  6. SteveD(TX)

    SteveD(TX) Well-Known Member

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    Listen to Windy.

    Like Dreams said, it's a "gamble". One that I'm not willing to take. Most of the land offered on on-line auction sites are hard to sell any other way. That should tell you something.
     
  7. Jan Doling

    Jan Doling Well-Known Member

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    We bought our land at an auction.. There were many parcels being auctioned in the development, but they numbered them in such a way, it was difficult to keep track (Phase IV, lot 9 & 10). My ex was British so he went for the most acres, which turned out to be mostly cypress woods, which, of course, is swamp land. We spent years haggling with the Environmental department and they finally "allowed" us to build on about 1 acre out of 20. It was cheap, though, and I consider the swamp a "buffer zone" so it turned out ok for us.
     
  8. Jena

    Jena Well-Known Member

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    I think the land on ebay is overpriced. If they were such a deal, or even a fair market price, why aren't local people snapping it up?

    There is a listing right now for Ashmore, IL. I just drove through there the other day, it's about 15 miles from here. The current price is $1550, which is probably far more than the lot is worth. They list a "value" of $8100...that is a joke. No way a small town lot is worth that much.

    Ashmore is a bump in the road. It's an ok town, but if you bought this lot, went out a built a nice big house on it...you would never recover the investment in it. No way. Not when you can buy some land in the country and build there.

    Jena