A Brief Insider’s Guide To Government Auctions
There are million’s of dollars of seized and unclaimed property auctioned by the government each and every day. These hidden treasures include cars, houses, boats, jewelry, antiques, and more. Because the government has nothing invested and often lacks ready buyers, the amount required to purchase can be incredibly low. Auctions are a popular method used to dispose of anything and everything that has been accumulated.
Government Auctions are held everyday all acros
s the United States. Federal, State and Local governments all hold their own auctions on a regular basis. The following information should prove helpful in getting you started with finding a new home, car or other property at a deeply discounted prices.
FAQ
How do I find a Government Auction near me?
– Unfortunately there is not one consolidated site that lists all of them for you. Local, state and federal governments tend not to communicate as you might think, but each has their own unique method of advertising their auctions. You should begin by contacting your local or state government. Occasionally you will find listings for auctions in the newspaper or posted at various city or county government buildings. Searching the internet may also turn up listings.
Is it complicated to buy via an auction?
– No, it’s typically a simple registration process. When you register, you get information about payment and other policies, as in how long you have to remove an item, once youve purchased it. You will also be able to determine whether you will be allowed to inspect what is up for bid, before the auction begins.
How do I find that specific items Im looking for?
– This is where the fun begins. It can take lots of looking. Frequently auction listings only mention some of the items being sold, not all of them. Checking with the local agency that would logically have the item you might want is a good idea. An agriculture related agency would be a good place to start looking for used tractors, instead of a business oriented department or agency.
Why are things so cheap?
– Simple supply and demand. The government seizes property everyday and there are a limited number of people that know how to buy it. The government is not at risk of taking a loss since they did not invest in the item to begin with.
Can you really buy a car for $100?
– Yes, there are cars that cheap, but they most likely will not be in mint condition. You should pursue this like you would when buying any used car. Kick the tires, look under the hood, and take it for a test drive if allowed. Try and check that the car is not a salvage car before purchasing.
What about real estate?
– The current economic situation likely makes this the newest potential goldmine for those with some money to invest. With the housing market and mortgage market taking huge hits this year, more homes have gone into foreclosure or are being seized by the government for back taxes owed. Watch the papers and internet websites for tax sales. The flood of homes being seized is making it difficult to impossible for various government agencies to find buyers for a wide range of properties.
The potential is only limited by the effort you put forth. I have seen a pallet of computers go for less than the cost of a single computer, because I was in the right place at the right time, but without a truck For those who have done the research and have prepared there truly are treasures waiting.
Have Fun!