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Rick Schwartz sells Property.com to ForeClosure.com

Posted on July 24th, 2008 by admin in Domain News | No Comments »

Brad Geisen, Foreclosure.com Founder, President and CEO announced today that he has reached an agreement with Rick Schwartz to acquire the domain name “Property.com,” paving the way for his entry into a new market.

With Property.com Geisen intends to create a one-of-a-kind — and convenient — one-stop online real estate marketplace that is easy-to-use and navigate. The Web site will serve as an easy-accessible national real estate classified that is going to be free to all visitors, providing sellers, buyers and investors with a whole new concept of marketing and finding homes on the Web.

The press release on this matter has been published on Rick Schwartz’s blog without disclosing the amount of the transaction.

DNJournal did a detailed write up on the sale and mentioned that Schwartz had purchased property.com for $750k in 2005. We can safely assume Rick made quite a tasty profit on this domain with this sale.

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