Is there anything i should look out for when buying premade website from ebay?

Do you have any experience using eBay? As long as you're careful and take all of the necessary precautions you'd do when purchasing anything from an eBay auction, you should be fine. (ie reputation of seller, etc) I don't think it's any different than buying any existing (turnkey) site ... be it from an eBay auction or from a webmaster forum, etc.

I would check out the usual google stuff. Like what is its PR? How many inbound links? Also check Alexa to see what its ranking there is. All of which will tell you how much traffic the domain itself is generating.

I would say eBay is good for selling site but for buying you should prefer it to buy from forum members, if you visit relevant section of sitepoint forum you'll find many good sites are there for sell on very affordable price.

I found when I looked on eBay people would say that the site has so many links and when I checked the betterwhois website things didn't match up. Be sure to do your research before you bid because most of these websites are turn key templates that are relisted right after you buy them. The sad thing is you will find very few people who would sell a site doing well. There just simply aren't many people who would sell a site if it was doing well. It just wouldn't make sense.

I sell sites on ebay, and most make money at the time of selling (Be it only £50 a month), turnkey sites are very dumb and I hate the makers of them. Every site I sell is unique and if not almost one of the kind on the net

See, I think that whether it's an auction or not an auction - always do your research.

cscgal, Right. Before buying it is important to research well about their past history and the profit making ability of particular site you are going to buy.

After all the scams I have heard about from ebay, I don't think I would even consider buying a website from there unless there was genuine website with someone who appeared to be a genuine seller, and the website was a low price.

I don't think it's any less secure to buy from eBay than to buy from someone you approached / who approached you via email or a post in a forum.