Things to Consider when Looking for a Real Estate on eBay

Over the past few years, eBay real estate sales have become quite popular, and the gross sales have grown by leaps and bounds. One of the best things about it is that you don’t have to be a professional real estate agent to use this category, although that kind of pro experience may help when it comes to closing the deal. Here, real estate company owner Richard Josephberg shares some helpful facts about navigating the real estate search process on eBay.

The key thing when looking for properties on eBay is to know what type of real estate you want. So, if you’re interested in a residential property, go to the Real Estate portal, click Residential, and start searching for item listings on eBay. The resulting list will assist with narrowing down listings by type of property and location. Options include links for Residential Homes, Foreclosures, Location, Price, Size, and more, explains Almorli Advisors founder, Richard Josephberg.

Search eBay listing titles for specific words. For example, if you want to find an apartment, type "apartment" into the Search box. Click Search Title and Description to expand your results. Visit eBay’s Search Tips page for more tips on searching with keywords. If you can’t find exactly what you want, try shopping eBay Stores, tell the eBay Community what you want by creating a post on Want It Now, or save a search on My eBay and eBay will email you when a match becomes available.

Once you find the perfect property, you should always check the condition of the home or real estate property. Is the roof leak-free? Are there termites? Is the electrical work up to code? Issues like these can add costs after the purchase, so buyers need to make sure they know about them ahead of time, advises Richard Josephberg. Furthermore, buyers should consider using a professional inspector trained to see the little things that most buyer may not notice. For example, it often occurs that a lender is satisfied with the condition of a roof and is willing to make the loan without modification. Without engaging a specialist, the buyer has no way of knowing the remaining lifetime of that roof.

The buyer should also ask the seller or seller’s agent about the residential real estate property. They should consider making a list of their top 10 questions. Some states may require that the seller delivers a specific form of a disclosure statement. A title search is usually performed by a title company or an attorney, who examines public records to determine the property’s legal ownership, loans on the property, and property taxes due. The company or attorney will also find out if there are any liens, which are claims against the property by debtors, or any easements, which give rights to anyone other than the new owner to make limited use of the property. If there are issues with the title, the buyer must discuss them with the seller.