If you've never heard of or attended government
repo auctions then you don't know what you are missing. There are deals
to be had on repossessed and seized cars and real estate at one of
these free public auctions that can't be beat anywhere. If you 18 years
of age or older and have a valid drivers license or ID you can
participate in one of these money saving events.
There are two types of items you will find at a government repo
auction; repossessed and seized properties obtained through criminal
investigations and prosecutions, and defaults on loans or owed back
taxes. The government uses these auctions to save money on storage
costs for the large amounts of properties they seize each and every
month. They also are able to recoup much of the administrative costs
associated with processing these goods saving the tax payers hard
earned money.
Because the government is not interested in making a profit but simply
wants to cover their costs the starting bids at these auctions are
usually very low. If you research your choices before hand there is a
good chance you can save big on whatever you choose to bid on.
Here's what you'll find at one of these free government auctions:
1. All makes and models of vehicles. You will find cars, trucks, SUVs,
RVs, and motorcycles at well below market value. Many of these vehicles
are less then a year old and are in excellent condition. Most of the
seized vehicles are a result of law enforcement arrests and
prosecutions which means in many cases they are high end vehicles.
Being able to score a luxury sedan, sports car, or tricked out SUV for
less then Blue Book value is one of the big draws of these auctions.
2. All types of real estate that includes single family homes, luxury
vacation homes, and businesses with all the equipment, commercial
property, and undeveloped land. For those who are looking to use real
estate as an investment tool a government property auction can be a
great place to start.
Participating online is also an option in the internet age. The
internet auction sites provide updated listings of when and where these
auctions are taking place along with updated listings of all the items
that can be bid on. This gives you the chance to do the necessary
research before hand which can help you decide what things are worth
and what type of bid package you are comfortable with.
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