US Auction Info
The Internet and eBay have given new oomph to an old scam, the sale of Florida swampland.
Buyers pay premium prices for lots in ‘paper subdivisions’ that have not been developed and may never be, the Orlando Sentinel reports. Sellers may tout the property as being close to Disneyworld and other attractions that are actually miles away.
Some Florida landowners might echo the cry of a man who made a similar purchase in the 1920s — ‘I have bought land by the foot and I have bought land by the acre. I have never before bought land by the gallon.’
The state has forced some sellers to buy back their land, after finding that they have violated regulations — such as not registering it. But some buyers who could get their money back choose to hang on to the land and the dream that it may one day become valuable.

Posted: 09|4|06 at 7:31 am. Filed under: Property News.