A Quick Guide To Local State And Federal Government Auctions

There are million of​ dollars of​ seized and​ unclaimed property auctioned by the​ government on an​ everyday basis. These potential hidden treasures include cars, houses, boats, jewelry, antiques, and​ more. Since the​ government has nothing invested and​ often lacks potential buyers, the​ amount required to​ purchase can be obscenely low. Auctions are a​ common method used to​ dispose of​ anything and​ everything they have accumulated.

Government auctions are held everyday all across the​ United States. Federal, State and​ Local governments all hold their own auctions on a​ regular basis. the​ following is​ some helpful information to​ get you started in​ your quest to​ find a​ new home, car or​ other property at​ a​ bargain price.

Frequently Asked Questions

How do I locate a​ government auction near me?

-- Unfortunately there is​ not one nice consolidated place that lists all of​ them for​ you. Local, state and​ federal governments tend not to​ operate in​ cooperation, but each has their own unique method of​ advertising their own auctions or​ sales. You can begin by contacting your local or​ state government in​ person, by phone, or​ email. Sometimes you will find listings for​ auctions in​ the​ local newspaper or​ posted at​ various city or​ county buildings. Searching the​ internet may also turn up listings.

Is it​ complicated to​ buy via an​ auction?

-- No, generally there is​ a​ simple registration process. When you register, you get information about their payment and​ other policies, like how long you have to​ remove an​ item, once you’ve purchased it​ and​ whether or​ how closely you will be allowed to​ inspect what is​ up for​ bid, before they begin the​ auction.

How do I find that particular item I’m looking for?

-- This is​ where the​ fun begins. it​ can take lots, and​ lots of​ looking. Often 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​ they will allow it. Try to​ check to​ make sure 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.

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