The town of Albert, Texas was won by an Italian man Friday, whose bid of 3.8 million has yet to be confirmed. No one lives in the 13 acre town of Albert, which is 60 miles north of San Antonio. The town also includes a pavilion, an 85-year-old dance hall, a tractor shed, a three-bedroom house, plus peach and pecan orchards.
However, before Bobby Cave, the current owner of Albert hands over the town deed he must make sure the eBay bid is legitimate. Unlike usual things bought on eBay, there is no contractual agreement on real estate. “There’s just not any way to insist that a guy from Italy write me a check for three million,” said Cave, 47, an Austin real estate agent. Cave said he has five other interested bidders if the Italian does not come through.
Bridgeville, in northern California, was the first town ever put on the eBay auction block. The 83 acres were twice sold on the site, in 2002 (that deal fell through) and again last year.
I gotta say, selling property on eBay seems to be more frequent. A few months ago a water tower was sold in Battle Creek on eBay. What isn’t for sale on eBay? Still, I wish I could afford a town. Seems kind of steep though, 13 acres for 3.8 million? That’s nearly $300,000 an acre, you could buy an entire house here for that much, overpriced!
