Property Auctions

Government Surplus Property Auctions

Executive Summary about Property Auctions By Mark Moyo

Purchasing surplus property at government auctions has been done for years. Many Americans have built their wealth by purchasing and reselling government surplus and land year after year. Instead of purchasing goods at retail or even wholesale prices from companies or ordinary stores, why not go to a government surplus property auction and possibly pick up the same piece of merchandise for a small fraction of the price?

Government auctions, especially surplus auctions, have proven to be an essential resource for individuals looking to acquire goods for pennies on the dollar for their business, and the great thing is, anybody can go to them. Any property the government does not need is considered “surplus.” Federal government agencies such as GSA oversee the sale of federal surplus property to civilians. GSA is the federal government’s procurement agent. When items are no longer needed by the federal government, they stretch our tax dollars by offering them for sale to the public. Aside from GSA there are many other federal and state government agencies and departments that also sell surplus property — state DOT department, and many others.

You might be asking yourself what types of items you could possibly find at a surplus property auction. Items generally range from automobiles and other vehicles to tools, industrial machinery, or office equipment. Most of the surplus vehicles GSA purchases are new and driven by government or state agency employees for official purposes. The vehicles are well maintained, have relatively low age and mileage and have desired features like automatic transmission, air conditioning, power steering, and power brakes.

Tips For Today’s Property Auctions
Executive Summary about Property Auctions By Parmdeep Vadesha

Good news for novice property investors: auction sales. Nowadays, buying a first home or an investment property at an auction has undergone a paradigm shift. Property auctions have become a great way to purchase a property for a profit - especially since so many properties can be bought at a price well below market value.

Property auctions are fast becoming a popular alternative to the traditional route of having to go through estate agents. With the rise in the number of properties being repossessed due to restrictive interest rates, properties up for auction have also increased.

Property auctions have also seen more novice buyers coming in. Most people have become familiar with bidding, perhaps due to online sites like eBay and some TV shows. Joining auctions is no longer an intimidating experience. Professional investors, bargain hunters and first-time home buyers are now turning to auctions to find the perfect property at an affordable price.

A property auction is exciting for the seasoned bidder, but a daunting experience for the first-timer. An auction is a heady yet bewildering experience, definitely not for the faint of heart. Before embarking on your first property auction, keep these tips in mind:

* Research beforehand on the property for sale. Also, contact the auction for additional details.

* View the property or lot prior to the scheduled auction day. Ask local estate agents for the going market prices of the nearby properties to determine if the price asked for at the auction is fair and within the current market rate.

Most properties up for auction are required to have a Home Information Pack but not a Home Condition Report.

admin on June 20, 2009 | Filed Under General | Leave a Comment 

Government Auctions

Government Auctions - The The Four Keys to Success

Executive Summary about Government Auctions By Richard Titmas

Government auctions are one of the best places to purchase nearly new merchandise for as much as 90% off list price. Many times these auctions are held monthly due to the cost of storing these items and the need to make room for future items. That is why an auction can be either a great source of wealth or for huge savings on a needed item.

There is a lot of money being made on items purchased through government auctions. Buyers become resellers within online auctions. It is a good possibility that they purchased a quantity of that item at a government auction for next to nothing. All over the web you see ads for purchasing cars at huge savings at government auctions. What most people don’t think about when it comes to items being sold at government auctions, is that merchandise available for bid are not always confiscated from some drug raid, or by the seizure of an item due to someone’s unfortunate need to payoff a lien. Many auctions contain merchandise such as computers, printers, copiers, and fax machines used in government offices all over the country. Fleet cars used n day to day activities, old law enforcement cars, etc. These items have to be surplussed, and by most jurisdictional laws, have to go to auction and sold to the highest bidder. These items are often sold by the pallet, but many times are sold individually. There are four basic keys that every auction bidder must be familiar with before buying at a government auction. I call these the four I’s, Inform, Investigate, Inspect, and Initiate.

1) Inform yourself of the various locations of these auctions, the items available within the auction, the time frame available to view the items, the true market value of the items that you intend to bid on, what is the expected means of payment, is there a fee involved with the purchase, are sales final, and who do you contact to ask these questions. Information is power, and power equals success.

2) Investigate the items that you intend to bid on thoroughly. What is the condition of the item? If you are buying a diamond ring, what is the quality of the diamond? If you are buying a car, what shape is the body?

3) Inspect the item that you are going to be bidding on. I like to see the items in person.

4) Initiate the purchase. Once you are comfortable with your decision, do not procrastinate, and do not hesitate. Know what you are willing to pay and stick to it. Be very weary of getting wrapped up in the bidding process and paying more than you originally planned

Good luck and good bidding.

admin on June 17, 2009 | Filed Under Government Auction | 1 Comment 

Auto Auctions

4 Tips To Buy Cheap Repossessed Cars At Auto Auctions

By Anthony Lee

Buying a car nowadays is not a luxury anymore. With more than one thousand reasons to buy a car, more and more people are trying to find ways to buy their very own car.

And for those who cannot afford to buy new cars, they can opt for cars within their means by purchasing repossessed cars at car auctions.

Just like any other types of auctions, auto auctions involve vehicles, usually cars, of any model depending on their availability, and bidders.

Here, bidders try to challenge each other against a certain model or make. Buyer with the highest bid wins.

Repossessed cars being sold at car auctions are usually priced lower than their counterparts. This means that you can easily obtain a car even if you have only a little budget for it.

Then again, not all repossessed cars sold at auto auctions are the same. They may vary from the overall condition of the car down to its minor details.

Hence, it is important to learn the art of buying repossessed cars at auto auctions without having to spend more money. Here are some tips:

1. Check the performance stat of the dealer or seller

Background checking will enable you to scrutinize the seller about his reputation in the market. If he is good enough as a seller, then, you know that you are in safe hands when buying your repossessed car at auto auctions.

2. Do your homework

Before you go to an auction site, try to make some research first on the rules in auto auctions. Learn how a certain auction site can provide you with the information about the car that you want to buy.

3. Inspect thoroughly (best if you really know something about car mechanic)

Buying repossessed cars at auto auctions are usually sold as is. Meaning dealers or sellers did not even bother to repair or refurbish the car.

Hence, if there will be some defects on it, make sure you can drive the car home even with defects. So the best thing that you can do next time is to meticulously evaluate each detail.

4. Never believe what they say

Keep in mind that sellers can always say the nicest things here on earth just to sell the car. After all, what they are after for is to have the chance to get rid of the car and earn money that they need.

Hence, it is best not to listen to these endless sales talks. It is best that you become down to business instead of reacting to whatever the seller say.

Indeed, buying repossessed cars at auto auctions may not be that easy. But applying all these things will definitely be worth the trouble.

admin on June 15, 2009 | Filed Under auto auctions | 1 Comment 

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