I just posted a property for a client on ebay. The parcel consists of 19 lots in Goldfield, Nevada.
Most land on ebay is either sold lump sum – for the entire price, or a financing mechanism is built in. When the owner elects to provide financing, the bidders are usually attracted to a low down payment, usually very minimal or almost nothing. The somewhere in the fine print it shows that there is a substantial payment stream that follows.
This auction is different in that the bidder gets to bid on the monthly payment. Instead of fixing the monthly payment, this auction fixes the number of payments. The bidder gets to bid on the monthly payment. The down payment would be two monthly payments, with 48 payments to follow. The purchase price would be 50 times the bid price per lot.
The bidder also has the option of buying only one lot, but may buy up to all 19 lots.
The bid is only $10 per month per lot at this time, but may increase by time to look at the auction.
Please take a look at the auction here:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=220509919523
Goldfield, Nevada
