BestOnlineBid.com
Is purchasing land online and through online auctions safe?
Can you share your experience and which online auction site did you use. List at least 1 POSITIVE and 1 Negative experience you had with that site and company. Thanks
Public Comments
- I would have to put my eyes on the land before I purchased or bid on it.
- Seems very risky. Before making any realestate transaction always speak with a lawyer who is familiar with that areas realestate laws. Scams are everywhere. I have done about 12 realestate transactions and I can not think of any that my lawyer did not have to fine tune. I consider him invaluable.
- Landauctions.com is very safe. Although I was skeptical because it is on tv too. I actually sold 2.5 acres to a company who works with them by the name of NRLL. My dad use to get offers all the time on his land and when he passed I contacted them because I felt that my dad had checked them out throughly (He always checked companies out). They handled everything and the transaction went smooth. The only thing I was trying to avoid is the timetable but they send someone out to appraise the land, then they send you a letter of offer. If accepted,it goes through escrow. I had no problems at all.
- the bad - if you don't know the area very well you really don't know what kind of land you are buying, Here in Florida we have some land which has environmental issues and you will never be able to build on. (Eagle Nesting Area, Scrub Jays, Panthers, Turtles, Mangroves) Some companies tried and are trying to sell those properties in online auctions. Unfortunatly they are always finding buyers who just can not pass on a "great" price like this for a piece of property in Florida. The good, if you know the area well, or if you know somebody who can check on the property you can really find a good deal.
- Go to clarkhoward.com and type in "land fraud" in the google search place at the top of the page
