Lee County in Florida is pushing to put their foreclosure sales on EBAY by the beginning of 2010 according to an article in news-press.com in hopes of alleviating some of the massive crowds that have been gathering at the justice center. Pretty soon the entire world will be able to bid on foreclosures in Lee County and how can that be bad? You’re opening up a huge pool of buyers that was not available before and consumers are already comfortable using EBAY.
The only thing that would be different is that consumers will not be able to change their bid once it’s been made so you guys that wait until the last minute to bid a few cents more than next guy would be out of luck.
I’m not entirely sure how the responsibility to liens will be handled on EBAY but it could mean a big savings to Lee County as well as freeing up government workers to do what they do best… hanging out.
Perhaps other counties in Florida will follow suit and the foreclosures will get processed more quickly meaning we’ll get rid of foreclosures more quickly out of the real estate inventory.