A New York Times article that features buyers who were burned by buying property on the internet was particularily interesting to me. Some important lessons to be learned from the article that are appropriate for all buyers are:

• visit the house before purchasing
• employ a Realtor® if you are not familiar with the area or neighborhood where you plan to purchase
• get a home inspection
• if a deal sounds too good to be true it probably is (if you buy a house for $3,000 or $10,000 be ready for anything)

Do you think its eBay’s fault? I see the internet and mediums such as eBay and Craigslist to not be at fault in transactions like this. Buyers need to be more aware of what they’re getting into. If I buy a digital camera from eBay, there is a chance I can lose my money by paying the seller, and never receiving the item.

A house, on the other hand is a big purchase that needs to be thought through carefully. If a buyer buys a $3,000 house on eBay, he can be out much more than his purchase price in a hurry. A hasty decision or cutting corners when making a purchase of this magnitude.