Found a site called auction dot com that deals with home foreclosures and related.
Anyone deal with them, Anything you need to know before buying buildings online? Only thing i've bought is land for like 2k.
I have not dealt with them specifically, but have bought property online. It's no different then buying it face to face.
You still need to do your standard "due dilligence" before. Make sure the seller really OWNS it (or is a true agent for the sellers) is the biggest. (I can sell you a quit-claim deed to the Mackinaw Bridge, and it's totally LEGAL!) Check for leins and back-taxes, make sure it's not a super-fund type cleanup site, etc. Really, you HAVE to check everything you would normally check before buying real property.
If you don't do ANY of that beforehand, you are gambling, pure and simple. Might as well go to the casino, and play the slots.
Unless you know that area, industry, and particular property extraordinarily well, fully understand the dynamics of that particular property (what was it used for; what could it be used for; potential tangible and intangible hazards: i.e. swamp, unbuildable, waste area, noise pollution: i.e. train tracks or airport nearby, etc.; what you plan to do with it; existing liens; existing leases; current trend of the surrounding area, current trend of the applicable industry/industries, etc.), then, as MikeBear similarly feels, I'd consider it gambling.
Slickdeals is able to share the best deals because of the contributions of users like you! If you found a great deal,
please share it with others by posting in our forums.
Welcome to Slickdeals!
Save money here by finding the lowest and cheapest price, best deals and bargains, and hot coupons. We're all about
community driven bargain hunting with thousands of free discounts, promo codes, reviews and price comparisons.
Don't worry, we'll help you find your way. If you haven't already, check out this
that explains the features of our site.