A man from South Florida recently found out that he got taken for a ride when he thought he scooped up a villa for $9,100 on an online auction.
In today's digital times, it's all about doing business, both big and small, online. But this story will prove that sometimes it's best to do things the old-fashioned way, especially when it comes to purchasing real estate.
It sure seemed like a sweet deal at just $9,100 for a villa in the community of Spring Lake and it was available with a simple mouse click. But according to Local 10, what bargain online shopper Kerville Holness couldn't have known is that what he was actually buying was a very thin strip of land that merely separates two villas and not an actual building. The cleverly-worded ad accomplished selling a narrow strip of land worth around $50 for a massive profit.
As you can imagine, Holness is not happy about the transaction. Understandably, he feels duped. However, a city official said that this is simply a case of buyer's remorse without many courses of action that can be taken to reverse the process. Holness believes the company who sold him a tiny grassy walkway is guilty of false advertising as property appraisal photos were linked to the auction site.
The actual dimensions of the property is 1-foot-by-100-foot - definitely not big enough to build a lemonade stand on, let alone a villa. Of course, the appraiser's site as well as the county tax site agree that Holness' unfortunate "bargain" has no building value, leaving his bank account $9,100 lighter and leaving him likely a whole lot more untrusting.
The lesson of this story might be that "location, location, location" is not all that matters in the sometimes perilous world of real estate. Sometimes it's determining what exactly is for sale in that sweet location, location, location that matters.
What do you think of Holness' risky online purchase? Should he continue to search for a way to fight for his claim of false advertising? Or would he be better off by filing this incident under the heading "If something seems too good to be true, it probably is?" Let us know your thoughts in the comments!