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View Full Version : Super cheap land on ebay?



Vivid Color Zack
12-17-2008, 04:35 PM
This is sounding too good to be true... thoughts?

Oh yeah not affiliated with me, I'm just looking and seeing land for like... 400 dollars, granted it's not prime real estate but if these guys bought in bulk from banks that defaulted and are just liquidating... could it be real?


cherokee village, Real Estate, Collectibles items on eBay.com (http://shop.ebay.com/?_from=R40&_trksid=m38&_nkw=cherokee+village&_sacat=See-All-Categories)

vangogh
12-17-2008, 06:20 PM
Seems legit. The seller could have a min price before they have to accept the offer. The current offer now is about $200, but maybe they won't sell unless the bid hits $50,000.

People have sold all sorts of things on eBay. I think someone once sold a whole town and we're all familiar with the story of Sarah Palin trying to sell a private jet on the site.

I'm guessing it's legit, though it may have the minimum price and who knows how good the land really is. I didn't see anything about how many acres it is and can't say I'm familiar with the area.

orion_joel
12-17-2008, 08:22 PM
It does say that it is unreserved. It sounds like some really really good deals, just really do wonder if it is or not.

Business Attorney
12-17-2008, 09:11 PM
Seems legit but there could be lots of little things, like how steep is the lot, are the roads in, is there water and utilities, etc... If it is well and septic, how much does a well cost and is the soil suitable for a septic system.

If you ask all the right questions, it could be a good deal. On the other hand, they may have bought a bunch of steep, heavily-wooded land at $1200 an acre, hired a surveyor to draw up lots of 1/16 acre and are selling the $75 land for $400 and being very happy with the gain.

While $400 is certainly cheap for a developed lot, it may not be as great a deal as it seems.

Vivid Color Zack
12-17-2008, 09:49 PM
That makes more sense.

They are no reserve auctions, I've been watching some of them and they are going for less than 500 bucks in most cases...

Business Attorney makes a really good point I bet anything that's the deal.

vangogh
12-17-2008, 11:27 PM
I guess you could buy one of the plots for $400 or so and take a trip to Arkansas to find out.

cbscreative
12-18-2008, 12:32 AM
This may have surprised me a couple years ago, but I was more recently shocked at how low the property value was in Arkansas (my Mom was living down there for many years). Undeveloped land can be purchased incredibly cheap. Maybe the value is due to increase, but if you look at the historical pattern, it's been a slow crawl for any rise in property value. It could be many years to never before you turn a tidy profit. Or, the breakthrough is about to happen and 5 or 10 years from now it could be worth many times the current price.

billbenson
12-18-2008, 12:47 AM
Maybe eborg will come by. He seemed to know a lot about ebay. I used to sell on ebay, but haven't in years. It's a completely different place now.

Evan
12-18-2008, 11:28 AM
The lots all seem to be a bunch of woods off of a road. I'm going to guess it doesn't have any of the things David brought up.

While probably legit, I'd want to actually see what I'm purchasing in this case. Pictures don't give the whole story.

vangogh
12-18-2008, 12:09 PM
I think those pictures are a few minutes away from the actual land you'd be purchasing too. They show you your neighbor's land, but not the land for sale.

Vivid Color Zack
12-18-2008, 12:25 PM
Thinking about taking a trip, just to meet with some local agents and hear from people who know the area better, trends and such.

vangogh
12-18-2008, 04:04 PM
Sounds like someone is thinking of buying some land in Arkansas.

Vivid Color Zack
12-18-2008, 05:17 PM
I'm thinking of a lot of things :) But who knows which ideas will turn out to be of any real benefit to anyone. Haha.

Business Attorney
12-18-2008, 05:31 PM
Well, let us know what you find out.

orion_joel
12-18-2008, 08:58 PM
One of the lots i looked at on there showed a picture of a fairly woody block, and said actual picture of lot. I suppose i would consider buying some, except for 2 reasons.

1. I live in Australia and have never been to the states, so no idea what anything is like in this area.
2. I am also not planning to move to the states, so would only be doing so as potential investment (which it doesn't sound to be the best option) and would most likely be relying on it being left alone, in my absence.

I have also previously looked at purchasing in a few different countries, but not just land the previous ones have mostly been houses, or commercial property.