Posted Sat Jun 3, 2006 1:21 PM
eBay's rules for rel estate are different. See below
Non-binding Bid Policy
Certain eBay online auctions involve non-binding bids (for example, some real estate auctions). Non-binding bidding is not a contract between seller and buyer. However, non-binding bids represent a buyer’s serious expression of interest in buying the seller’s item. Furthermore, insincere bidding is not permitted.
Violations of this policy may result in a range of actions, including:
Limits on account privileges
Forfeit of eBay fees on cancelled listings
Loss of PowerSeller status
Non-binding real estate auctions are described in greater detail in Real Estate Rules.
Some Examples Hide
Mary is selling her house and has received many bids on the property. The listing closes with a high bidder and Mary is ready to close the sale. Unfortunately, the high bidder decides not to complete the transaction. Upset with this buyer, Mary tries to file for Final Value Fee credit through the Unpaid Item process. Mary, the seller, is in violation of the non-binding bid policy because bids on real estate are not contracts.
Example of a binding bid: Steve is bidding on a new rug for his living room and he wins the online auction. Later, he finds out that the rug is not big enough to cover his floor and he wishes to back out of the transaction, claiming the bid was non-binding. Steve, the buyer, is in violation of the Unpaid Item policy because the rug he was bidding on is not covered under the non-binding bid policy.
Why does eBay have this policy? Hide
In most cases, a bid on eBay is a legally binding contract between the buyer and the seller. Due to state laws and complexities in certain real estate transactions, bids on some categories of Real Estate on eBay are non-binding.
Personally I am tired of all of the crap on eBay from sellers who try to avoid selling and buyers who do not pay. I have been thinking of going after some of them through the court system.