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.
