For the Best Deals in Land, Buy Land At AUCTION
Storage Auctions by State
Storage auctions have seen a rise in popularity and interest in the
last couple years because of a couple of successful television shows
that highlight the interesting finds that are possible. The fact is, this
type of auction has been taking place around the country for many
years now. It is a way for the owners of self storage facilities to recoup
some of the lost revenue incurred from delinquent renters, and
provides an easy way to clean out the units of non paying customers
so they can be put back in use by paying customers.
Here is how a storage auction generally works: The owner of a
storage facility gives notice to renters that have not made the monthly
payments on their units for a long time (usually 3 months). During this
process, some renters will pay the past due amount in order to keep
the contents of their storage locker. The storage facility also usually
posts a public notice with a list of renters that are seriously past due
and schedules an auction to sell the contents of the storage bins of all
the renters who do not make an effort to pay off the past due amount.
At this point, the storage facility will usually put a lock on the units of
the non paying customers so that the renters cannot access their
property without making a payment.
Although the storage auction is announced and advertised in
advanced, the exact number of units that will be sold at auction is not
known because any number of the delinquent renters may bring their
account up to date before the auction begins.
The day of the storage auction, an auctioneer will be present at the
facility where the storage bins will be sold. The auctioneer generally
gets paid a percentage of the sale price of the storage units. Before
the auction begins, anyone who is interested in participating shows up
at the storage facility and registers to bid. After a few basic
instructions to the bidders, the auctioneer begins by leading the
bidders to the first unit to be sold.
As each unit is opened up the bidders are given a chance to walk by
the unit and take a quick look at the contents to decide if they will be
bidding on it. (in most cases they are not permitted to open any boxes
or dig through any items). Once everyone has taken a quick look at
the contents of the locker, the bidding begins.
How do storage auctions work?
This is a new section on the site so some states will not have any storage
auction listings yet. We are quickly adding links so soon there should be
listings for every state. If you know of an auctioneer that conducts storage
auctions that is not listed here, please submit a link to the website and we will
add a link to the appropriate storage auction state page.