Unpleasant Surprises for Online Real Estate Buyers

Posted by ryuzaki0 on Sunday March 12, 2006 @11:37PM from the caveat-emptor dept.

prostoalex writes "Buying expensive items online from the people you've never met without any guarantees on the seller's part might seem a bit risky even for an experienced Internet shopper. The 'hotness' of the real estate investment market apparently influences some cash-heavy investors to look for opportunities online. When the entire transaction is done via a click of the mouse, and the deed for newly bought real estate arrives in the mail, some unsuspecting buyers might discover that a cozy house near the bus line in the middle of a busy street might imply a criminalized neighborhood and proximity to crack house. The New York Times investigates negative experiences of people buying investment real estate online."

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Simple solution by spellraiser · 2006-03-12 23:46 · Score: 0, Redundant

Don't buy real estate you haven't seen.
Right?

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I hear there's rumors on the Slashdots
If you do this, you're asking for trouble... by babbling · 2006-03-12 23:47 · Score: 0, Redundant

Buying any real estate online is clearly a stupid thing to do. Anyone who does this was just going to lose their money via some other scam, anyway. There's not much point in trying to prevent them from losing their money, because they will eventually find a way.

A fool and his/her money will soon be parted.
well thats just stupid by nickgrieve · 2006-03-12 23:50 · Score: 0, Redundant

Buying a house site unseen is just plain stupid, fools and their money indeed.