Quote from the Independant:
Quote:What Elvis clearly didn't tell him was that a winning bid for property on Ebay does not necessarily constitute a legal contract because Ebay maintains real estate auctions on its site are purely marketing events that generate publicity and not actual legally binding sales.
http://news.independent.co.uk/world/amer...625085.ece
BBC Article
http://news.bbc.co.uk/2/hi/entertainment/5043572.stm
Quote from IMDB.com:
Quote:Geller Misses Out on Elvis House
Paranormalist Uri Geller is fuming after discovering Elvis Presley's former home, which he bought on eBay, has been sold to someone else. Last month Geller made a successful $905,100 bid on eBay for the Tennessee property Presley lived in before moving to Graceland. But the owners snubbed the deal and sold the four-bedroom house to a foundation formed by music producer Mike Curb. Geller, who planned to turn the house into an Elvis museum, says, "We are absolutely, mind-blown angry. Of course we're going to sue." But eBay warns its rules will make it difficult for him to sue. Spokeswoman Catherine England says, "The platform we provide in real estate really serves to generate interest. It isn't a legally binding contract."
(Post originally gleaned from The Ross Show)
http://www.therossshow.com/showthread.ph...post107320
eBay Real Estate signs. The do not disturb occupants is a nice touch.
http://stores.ebay.com/Onfire-Signs
Quote:"The platform we provide in real estate really serves to generate interest. It isn't a legally binding contract."
It isn't a legally binding contract because the actual deal, i.e. contract signing, takes place off-site. eBay offers 2 type of real estate auctions: "non-binding" and "binding".
Unlike regular eBay binding listings that form a legally binding contract, the Real Estate "binding" auctions aren't legally binding. The "binding" Real Estate auction format is "trust based" (like Wagglepop's verification
) and the only penalty for not following through with a "binding" Real Estate auction is negative feedback.
Quote: * "Binding" Auctions
"Binding" auctions of real estate are designed to more directly result in the sale of the property to the highest bidder. In this format, users are asked not to bid unless they intend to complete the purchase of the listed property, subject to customary diligence and contingencies. While eBay Real Estate cannot guarantee consummation of the sale to either the seller or a potential buyer, our rules require the seller and the final selected buyer to follow through in good faith. Hence, these auctions are "binding" strictly insofar as this good faith requirement, like the eBay User Agreement more generally, is binding on each eBay user, and insofar as a user's disregard of the required good faith intent can result in negative feedback. "Binding" auctions are not universally available. Each seller selecting the auction format for the advertisement will be informed whether the property to be posted qualifies for binding auction.
http://pages.ebay.com/help/community/re_agreement.html
Quote:Spokeswoman Catherine England says, "The platform we provide in real estate really serves to generate interest.
eBay should drop the auction format entirely to eliminate confusion and only have classifieds because real estate listings on eBay are nothing but glorified classifieds.
I wonder what his eBay ID name is? Better yet... I wonder if he knows mine?
This will be more pleasant (NOT!) advertising for eBay.
Interesting articles on electronic contracts for the sale of land:
http://www.murdoch.edu.au/elaw/issues/v1..._text.html
(OK, I'm a nerd. But, it's an interesting legal issue - one that's struck at least one other person before now.
Under common law, according to the Statute of Frauds, a contract for the sale of land must be signed and in writing. But, in today's age . . . just what is a writing? A land sale contract can be scribbled on the back of a napkin in a pub. Why wouldn't a digital exchange meet the requirements? And wouldn't the act of signing in under a unique userID and placing a bid be an adequate signature?)
Back to your regularly scheduled programming . . .
It is just a matter of time before "we are just a venue" is going to blow up in eBay's face!
I agree.
Why even offer the real estate section at all, if it doesn't really mean anything? The publicity thing is BS.
Update: Uri Geller sues the seller
Quote: Celebrity psychic Uri Geller and two partners claim in a federal lawsuit that the former owners of Elvis Presley's first house breached an eBay contract to sell the home.
Geller, who gained notoriety in the 1970s for seeming to bend spoons through telekinesis, and his partners are seeking to rescind the sale of the property to Nashville record producer Mike Curb.
Their $905,100 offer was the high bid in the May 14 Internet auction. But after the auction, they made changes to the real estate contract that gave owners Cindy Hazen and Mike Freeman 60 days to move from the property...
full article:
http://www.mercurynews.com/mld/mercurynews/15315981.htm