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In today’s article we’re going to feature a quick round-up of some what we believe to be some of the most valuable resources on the internet for anyone looking to take part in the surplus business trade. The resources consist of, in our opinion, many of the best products, services and educational and training information available to individuals. Some are free information resources, and some are paid products and services. But, all, we feel, will be highly valuable to most readers of SurplusBusiness.Com.
So, please, peruse the following surplus business resource list at your lesiure. We’re sure you’ll find something within the listing that you find to be of value.
Government Auctions School — A very handy and information-packed guide for taking advantage of government auctions is available from this resource. However, it mostly focuses on how to obtain vehicles — cars, truck and SUVs at government auctions. But, some information contained within the guide is sure to be of value to those seeking to obtain other types of merchandise at government auctions.
Government Auction Tracking and Listing Service — This site offers an exceedingly valuable service to those looking to take part in government auctions. Of course, knowing just when, and exactly where, government auctions are taking place near you is absolutely key in being able to grab the best deals on government surplus merchandise. This locating and tracking system maintains an exhaustive and constantly up to date list of all of the latest announced upcoming government auctions. The auctions are searchable by area, and the resource maintains a reminder service, so you can be constantly kept abreast of any new government surplus auctions that are scheduled to take place near you — or, in any area you choose.
Auction-Resource.Org — Claims to be the internet’s #1 source for government and police seized, surplus and unclaimed property auction listings. Maintains a database of more than 4,000 live, active and upcoming public auction listings — entirely searchable by area. Along with its extensive government auction listing service, Auction-Resource.Org also offers an extensive collection of training and instructional materials.
The Auto Auction Center — Provides a live, interactive search function enabling users to perform searches for specific vehicles currently up for auction from various government sources, including local, state and federal police agencies, military, and other federal, state and local governmental departments. Also provides access to browsable and searchable lists of all such vehicle auctions.
SherrifAuctions.Org — Includes online listings of country-wide Sheriff’s department auctions for items such as seized and repossessed cars, motorcycles, trucks, SUVs, vans, RVs, and boats. Provides listings of live, ongoing, Sheriff auctions currently taking place online in real-time, as well as listings for Sheriff auctions coming up in your specific, local area.
Ultimate Surplus & Wholesale Guide — For anyone looking to get into the game of making money by snatching up bargains at surplus auctions, or purchasing items at or below wholesale prices from various surplus, wholesale and liquidation sources, this is the ultimate guide which will detail absolutely everything you need to know in order to do it. The guide details exactly where and how to find and purchase surplus, liquidation and wholesale products at prices up to, and sometimes more than, 90% off the product’s regular retail price — and then, turn around and sell those items at a substantial profit.
Wholesale Sources Online — The #1 source on the internet for searching and finding active sources, providers and distributors of wholesale, close-out and liquidation items such as jewelry, watches, designer handbags and fashion accessories, clothing items, and more. Name brands listed include labels like Gucci, Prada, Chanel. Versace, and more — all available at wholesale, or below wholesale prices.
First of all, in case you’re here looking for information on such, let me be right up front and dispel a myth that some people seem to believe: There is simply no such thing as totally free federal government land available anywhere in the United States, Canada, nor any other Western, industrialized country that I know of. So, if you’ve seen something on the Internet somewhere wherein someone is promising you that if you’ll just send them a certain amount of your money, they’ll then send you information on exactly how to get free land from the government, don’t believe it. They are either misinformed, delusional, or they’re deliberately trying to scam you. Either way, the information they have for you is useless and your money will be wasted if you send it to them.
It’s not the 1800’s anymore. There is simply no longer any such thing as totally free federal government land available in this country. There is, however, still some county and municipal governments that are offering “free” land. Notice, if you’d please, that the word “free” in that previous sentence is in quotes. Why? Because, when I say that this land is “free”, what I mean is that it can, at certain times, and in certain circumstances, be obtained for essentially no actual money. That doesn’t mean, though, that you wont have to expend something in order to take control of this land.
Whenever some governmental body is offering to give away land for essentially no money, they always want something in return — even though that ‘something’ might not necessarily be legal tender cash money.
How to Get Free Land from the Government:
There are municipalities and counties that are in trouble — they are either experiencing fairly rapid population decline, which is leading to an economic crisis in the locality. Or, they are sitting on government held property that is in unusable, unsaleable condition for some reason, it’s costing them to maintain it, and they are willing to hand over title to the land in exchange for an agreement from you that, under your control of the property, you’ll bring the property back to a desirable state within a certain time period, and at your own expense.
In the latter case mentioned above, the scope of such land acquisition is almost always outside of the means of any private individual. It’s usually only corporations who have the means to take advantage of such offers — as, usually, what’s involved in cleaning up the land, in the manner required, is so cost intensive that the current controlling agency — either a municipality, or county, or what have you — is unable, or unwilling, to undertake the expense and burden themselves. So, anyone who would acquire such land under such conditions would need fairly extensive resources, along with the means and will, to make sure that the outlay of such resources stood a good chance of resulting in a net profit somewhere down the road.
For example — in the county in which I used to live, back in the 1960s, a small, start-up energy company became convinced there was oil in a rural area not far outside the small city where I lived. They purchased a plot of about 600 acres from the county and set-up a drilling operation. As it turns out, they were wrong about the oil. Yes, there was some there, apparently. But, not enough to make the company’s efforts significantly profitable. The company scraped by for the better part of twenty years, alternating between years of ending up in the red, and turning a tiny profit. But, overall, not enough to make the long-term operation worthwhile.
In the mid-1980s the company finally went bankrupt and the county seized the property. There was a problem, however. The company had pretty much entirely destroyed the land in their 20 year occupation, and turned it into an environmental disaster area. The entire lot was littered with massive, useless, rusted out, rotting industrial machinery. The site had experienced twenty years of various spills of crude oil and other toxic chemicals at the hands of a company that was constantly struggling not to fail at their investment, and so, were consistently cutting every corner they could — which, of course, included neglecting any expense required to operate cleanly and in a manner not hazardous to the land itself. The land they operated on for two decades was now a bona-fide disaster area. It would cost the county untold millions to clean up the site and make it safe once again. And, that was money that the county just didn’t have.
So, what did they do? They gave the land away — for free! They found a large a corporation who was interested in obtaining that amount of land for some commercial purpose and they signed over title of the property to that corporation in exchange for a legally binding agreement that the corporation, within a period not exceeding ten years, would bring the land back into a state that met with EPA and county specified standards.
Those sorts of free land from the government deals (if you can call them ‘free’) can still be found from time to time. But, as I said before, taking advantage of such offers is likely not within the means of very many private individuals.
Oh, and, by the way — just for interest’s sake — in that specific instance I related above — the corporation that acquired the “free” land were good to their word, as it turned out. They spent what was probably many millions cleaning up the land and completely brought it back into a practically pristine state — far exceeding EPA and the county standards agreed upon in the contract — and, they did it well ahead of schedule. And, once they’d done all the clean-up, the county attempted to exploit a legal loop-hole in the contract to void the agreement and take back control of the land from the corporation. There was a giant legal battle over it that lasted years. The corporation did finally end up winning that battle, however. But, it was in the courts for years, and who knows what tax-payers ended up paying in legal costs to the county because of it — perhaps more than they would have spent had the county originally just undertaken the cost of the clean-up themselves?
So, it would seem that, for the average individual, such is just not a viable means when it comes to how to get free land from the government. Are there any other ways, then? Well, as mentioned above — yes. There actually are. But, as was also mentioned above, the ‘free’ part never really means entirely ‘free.’
For instance, the state of Mississippi has a number of counties that are currently experiencing a population decline. The state, and these counties, are somewhat desperate to increase the population in order to aid the declining economy, and to gain more electoral votes in their districts. So, they’re willing to give away *free* land to just about any takers. And, if you’re interested in obtaining any of this *free* land they might currently have on offer, you can get more information about it by contacting the offices of the Public Lands Division of the Secretary of State of Mississippi. Mississippi isn’t the only state doing this, by the way. There are a few of them — mostly Midwestern — and, the the land available is usually very rural.
However, I’ll caution you to take notice that the word *free*, written in the above paragraph, appears within cautionary asterisks. Yes, there are a number of counties in Mississippi, and other states, that do, from time to time, make available offers of granting land to individuals in exchange for no monetary purchase price. But, there are some things of which you should be aware: Usually, the land on offer is unserviced land — this means there is usually no phone service near the land, no electrical, no county, nor municipal water or sewer service, etc. And, in a lot of cases, in order to obtain title to the land, you’ll be required to enter into a contract with the county wherein you’ll agree to erect a residential structure and set-up residency within a certain amount of time, or else the title to the property will revert back to the county.
What this means, of course, is that you’d either have to be willing to take upon yourself the expense of building a house and actually living in it without running water, modern plumbing, telephone service, or electricity. Or, take on the expense of building a house and paying the county to extend such services into that area. And, such costs are exceedingly expensive.
I can’t say what the costs are specifically in every area today. But, I can tell you that back in 1994 I bought a small parcel of uncleared, unserviced land in a very rural part of Ontario, Canada (purchased in a private sale). I wanted to build a small cottage on the land, and, just for interest’s sake, really, I looked into what it would cost to get service run out the cottage I was planning on building. Just for telephone service, I was quoted a price, by the county, of roughly forty dollars per foot — calculated from the nearest existing telephone line they could run a tap off of. Which, in my case, was a little over three miles away at the time. So, just for telephone service alone, my cost would have been well in excess of a half a million dollars. Upon learning that figure, I abandoned my interest in finding out what electrical would have cost. I’m sure it would have been at least equally as prohibitively expensive.
So, how to get free land from the government, exactly? You can’t, really. It doesn’t really exist, I’m sorry to say. Anyone who tells you it does is handing you a line. That’s just the reality of it. You can, in some cases, get what is *virtually* free title to some sort of property from some governmental bodies. But, there will always be strings attached. And, in many cases, those strings will be very expensive, very thick strings, to say the least.
However your dreams may be dashed in how to get free land from the government in any absolute sense, it might do you good, though, to realize that cheap land from the government, as opposed to free, is another matter entirely. And, in fact, various governmental bodies do actually auction off parcels of land for various reasons that, in certain circumstances, can be obtained at exceedingly attractive prices — quite often at prices significantly below market value. So, perhaps setting your sites on more realistic targets, abandoning the question of how to get free land from the government and, instead, looking into getting land from the government at incredible bargains might be a wiser course of action.
Have a look in the ‘related posts’ area directly below this article to find extensive information on how to take advantage of government land auctions.
So, you’ve started your own home business or small business — or, at least, you’ve finally made the decision to do so — and now you find yourself in need of all the required supplies. Of course, if you’re just starting out, your budget is quite likely to be somewhat on the lean side, and the cost of acquiring the necessary supplies to get your new small business off on the right foot can be somewhat costly. Luckily, there are methods for obtaining very good quality business supplies for much less than you’d regularly expect to pay — and, I do mean MUCH less! Acquiring such supplies via government surplus is one of the top options available to you.
Acquiring much needed business supplies from government surplus sources has long been a well established means of outfitting a small or home business with exceptional quality items while still managing to save a significant amount of money and, thus, going a long way in helping to keep your business’s budget from creeping into the red.
Practically anything your business might need in order to operate efficiently is regularly sold off by the government through surplus channels — if your business needs it, chances are that some government surplus outlet has it up for sale right now, or soon will. And, practically all of it is sold at or below cost, or below wholesale – sometimes significantly so. Sometimes they even practically give it away.
Whenever some government agency, either at the municipal, state, or federal level finds itself with extra items, supplies or equipment that they no longer require these items will sometimes be destroyed in some fairly rare circumstances, shipped to another government agency that may have use for the items, or, very often, sold off to non-government individuals or entities through public or private sales, or through public or private auctions.
The particular government agency offering surplus goods for sale will utilize different means and methods for selling off these goods. They may hold a public auction which members of the public may attend and place bids on the various items for sale. But, today, more and more, many government branches and departments are turning to on-line, electronic means for conducting such sales — even when their wish is to auction such items to the highest bidder. Some governmental organizations have even been known to use eBay in order to sell their wares. However, most now regularly utilize dedicated, government run services and electronic, on-line, central sales outlets.
The majority of state governments now employ the use of some sort of central auction and/or sales website that members of the public may visit, browse the items currently up for grabsm and place bids on the items they’re interested in. Many municipal governments are now doing the same sort of thing as well. However, with federal government, there is still no such entirely comprehensive, all-in-one, central on-line service maintained by any one central branch. Instead, there are a number of governmental departments responsible for the selling off of surplus goods and items from various areas of government.
The General Services Administration, or GSA, is tasked with getting rid of the bulk of items and property that a number of areas of government find themselves no longer in need of. But, the Defense Department takes care of their own surplus sales and does not use the services of the GSA in most cases. Along with that, various federal level law enforcement agencies also run their own surplus auctions, sales and property disposal.
The following information is already readily available on SurplusBusiness.Com, but we’ll include it here briefly again for easy access. Here’s a quick run-down of some government surplus related Internet sites that you’ll most certainly find exceedingly useful in helping you to save money while procuring the supplies your business requires to operate effectively and efficiently:
Govsales.Gov – This is the official on-line Federal Asset Sales Portal for the United States Federal Government. Operated by the General Services Administration, it contains a comprehensive, searchable and browseable, listing of most surplus items currently available for sale, or at auction, from a vast array of different federal government departments and sources. At any given time you’re likely to find just about anything from soup to nuts being offered up for sale from the federal government on this site — from fully functional helicopters, to pens and pencils. From high-tech medical equipment, to coffee-makers and work boots.
Gov-Auctions.Org – An exhaustive, all-in-one on-line resource comprising the largest single source of all state-level, and federal, US government surplus auctions including government surplus pre-owned and seized cars, trucks, SUVs, boats, real-estate and a wide array of personal property items — all at up to 95% off book-value on many of the individual items being offered.
DispositionServices.Dla.Mil – Home page for the U.S. Defense Logistics Agency Disposition Services. This website makes available surplus items, goods and property obtained from the various branches of the U.S. military. Don’t skip over this valuable resource if you’re not interested in strictly military-style items, however. The military uses a great deal of items that aren’t immediately associated with being strictly military items, and any excess goods that have been owned by any branch of the military and is now available for surplus sale is offered on this site. It is not at all uncommon to find incredible deals on things like office supplies, kitchen supplies, furniture, and much else on this site — along, of course, with all of the standard military surplus fare.
GovernmentAuctions.Org – An incredible and valuable private government auctions listing service. This powerful resource keeps track of all upcoming federal, state an local government surplus auctions and keeps you informed, ahead of time, on all such events that will be taking place in your area, and elsewhere. If you’re thinking of making money by acquiring surplus goods and flipping them for a profit, this resource is absolutely indispensable for providing you with the upper edge you’ll need to maximize your chances of success — get a leg up on the competition by being kept informed of the most obscure of government sales in order to take advantage of the very lowest of surplus prices.
U.S. Marshals Service Assets Forfeiture Service – Home page for information regarding the sales of seized and forfeited property available through the U.S. Marshall’s Service. This Internet site contains listings of currently available seized and forfeited real estate, vehicles and other property that the U.S. Marshall’s Service has available for public auction.
Insider Wholesale & Surplus Products – Government agencies aren’t the only places available to you for acquiring goods, items and property at incredible, far-below wholesale surplus prices. There is a wealth of commercial retail and private sources that you should be informed regarding. This site contains all of the information you’ll need to learn about such avenues and take advantages of the incredible deals available through them.
United States Treasury Real Property Auctions – This website is operated by the U.S. Treasury Department and lists auctions of seized Real Property currently for sale throughout the country. Listings regularly include all manner of both residential and commercial buildings, land and property — including single and multi-family dwellings, commercial warehouse buildings, commercial retail properties, even fully operating businesses that you can purchase and take over.
IRS Real and Personal Property Sales – This website, operated by the United States Internal Revenue Agency lists all items currently up for sale or auction to the public that have been seized due to tax defaults. Items regularly offered include just about anything you can think of — from clothing, to jewelry, to automobiles, office equipment, furniture, artwork, real estate, etc., etc., Anything that has value and has been seized by the IRS can be found offered for sale to the public on this website.
A practice very much related to the surplus business is the field of real estate foreclosure investing — the buying and selling of foreclosure or pre-foreclosure properties. It is quite common to find those running successful surplus businesses to be dabbling in real estate foreclosure investing. And, as a way to diversify your income streams if you’re currently, or thinking about becoming, involved in making money in the surplus business game, you’d be well advised to investigate the possible opportunities which present themselves in the area of foreclosure investing.
How does the process of foreclosure investing work?
To begin with, when someone obtains a mortgage for the purpose of purchasing a home or other property, a bank will provide to that person a loan for the amount of the house or property. This loan is secured by the bank, in almost all cases, by the very property which is to be mortgaged. Therefore, when someone obtains a mortgage from a bank in order to purchase a new house, the buyer, in practical terms, enters into two agreements with the lending bank. The first of these is the actual mortgage agreement itself. The second is a security agreement. This security agreement specifies that, if the buyer should have the misfortune of defaulting on their mortgage payments, the issuer of the mortgage may then foreclose on property being mortgaged in order to recoup the outstanding debt owing to the lender.
In the event that a homeowner, still owing on a mortgage, does come to find themselves in the unfortunate situation of being unable to continue their mortgage payments, and they allow the debt to go unpaid, the issuer will, at some point, file a legal notice known as a Notice of Default, or sometimes what’s known as a ‘Lis Pendens‘ (Latin for ‘suit pending’). Depending in which state the foreclosure is occurring, the lender will file at least one of these two documents. These legal documents, once filed, allow the public to know that an action of foreclosure on the property has commenced.
Foreclosure Investing Explained – Pre-Forclosure
Prior to the property entering into full foreclosure, there is a period of time which exists, after the Notice of Default, or Lis Pendens has been officially filed, but before the actual foreclosure auction takes place, which is known as the pre-foreclosure phase of the foreclosure process. During this pre-foreclosure period, interested members of the general public receive their first opportunity to attempt the acquirement of such properties. This is done by contacting the property owner directly — the current holder of the mortgage in default — with an offer to buy the property from them and take it out of foreclosure.
Such an offer can be attractive for both the party making the offer, and the current owner of the property. If the house goes to full foreclosure while in their possession, the current owner loses it completely. They walk away with nothing and must simply absorb the entire loss of the money they’ve already paid into the equity of the property. The bank seizes the property, sells it, and retains all proceeds in order to recoup their investment. For this reason, knowing that they are currently on track to lose their property entirely with pretty much nothing to show for it, an owner, at this stage, will be primed to give serious consideration to an offer which may well be below the market-value of the property in question, or even below the amount of equity they currently have in the property.
The owner of a home currently in the pre-foreclosure stage, very often, may be highly anxious to sell the house at a significantly undervalued cost. In doing so, they may avoid losing their property entirely, and actually gain walking away from the mess they’ve found themselves in with at least some amount of money from the deal. They can avoid having their credit rating destroyed by holding a property that goes to full foreclosure. And, if their property does end up going to full foreclosure while in their possession, and the mortgage lender, upon selling the foreclosed property, is unable to fetch a price that fully covers their losses, the mortgage lender then has the ability to bring a civil action against the borrower in order to gain judgment for the difference. All of this can be avoided by the unfortunate home owner by unloading the property while it’s still in the pre-foreclosure phase. And so, of course, there exists, at this point in the process, a strong incentive to sell off the property.
Full Foreclosure — The Foreclosure Auction
In the event, for whatever reason, the current owner does not sell off the property prior to the date of full foreclosure and the occurrence of the foreclosure auction, or if default hasn’t been cured via some other means, then the foreclosure sale will go forward and a trustee will attempt to sell the property at auction to the highest bidder. The trustee will attempt to garner a final price at auction which recovers any outstanding balance on the mortgage owing, plus any related expenses associated with the process.
Just before the auction for the property takes place, in most cases, the lender will pay-off any secondary debts or liens which may be owing on the property. This might include things like outstanding property taxes, or other related taxes. The reason for doing this is so the property can be sold off at auction with a clear title — otherwise, the new owner obtaining the property at auction would also be taking upon themselves the responsibility for those outstanding debts. The lender, very often, at this time, will submit what’s known as a ‘credit bid‘. This bid is the amount still owing on the mortgage, along with any related expenses the lender may have incurred. This can sort of be seen as a bid the bank enters, in which they will purchase their own property being sold — as in, any bid lower than this amount would make the sale pointless and undesirable for them, so they themselves will bid this amount in order to keep the property. In reality it acts as an opening bid. So, the bidding process does not start at $1.00, or some such other low, arbitrary figure, but instead it begins at this ‘credit bid‘ amount.
In some legal jurisdictions, previous owners enjoy what’s known as a ‘right of redemption.’ This affords the previous owner of the property a set time limit, the length of which varies from area to area, in which they may redeem the property if they are able to come up with the money that the property was sold for. Although this very rarely occurs, one should be aware of the possibility and investigate what the specific law is regarding a right of redemption in the area in which you may be interested in bidding on a foreclosed property. If you do end up placing a winning bid on a foreclosed property, it could be that the previous owner may show up within 30, 90 days, 6 months, or what have you (again, depending on the laws of the area) after the date you acquired the property with the amount of cash that you paid for the property. In such a case, you would be legally required to hand the property back to the original owner in exchange for being reimbursed your purchasing price.
Along with the original owners right of redemption — which may, or may not, be in effect in the area in which you’re bidding on a property — the IRS also enjoys the ability to be able to redeem the real estate if there are back taxes still owing on the property. This too, however, is quite rare, as in most cases the lender, for the purpose of fetching a higher price and attracting more bidders, will have cleared such outstanding debts before putting the property up for auction. Properties wherein a buyer, once acquiring the property, will take upon themselves a claim against them by the tax man tend to scare people away. Because of this, it’s quite rare that such properties are put up for auction with such debts still attached to the property. But, in rare cases it can, and does happen. So, one should be aware of this, do their due diligence in attempting to discover the exact nature and financial standing of the property on which they’re bidding, and factor such things into their bidding decisions.
FORECLOSURE INVESTING EXPLAINED — REO Properties
The final phase which may, or may not, take place in the foreclosure process is what’s known as the ‘REO’ stage. REO is an initialism which stands for ‘Real Estate Owned‘. When a property which has entered into foreclosure and has been put up for auction fails to attract a high enough price to cover the lenders losses on the property, the mortgage lender will take control of the property. If the lender happens to be an institutional lender, the property in question will become an REO property.
The REO property is basically just a real estate property that is owned, held and is being managed by a bank. Lending institutions, however, are usually quite eager to liquidate these properties as quickly as they possibly can. Banks are in the business of lending money, they’re not in the business of managing and holding real estate, and doing so is seen as an unprofitable distraction. The money that is tied up in the value of the property which itself is, basically, just sitting there, is money they could be using to loan out at interest. So, banks holding REO properties are usually quite motivated to move the properties swiftly. For this reason, a solid investment deal also presents itself to interested property buyers at this final stage of property foreclosure.
To search through a comprehensive listing by area of properties currently either in the pre-foreclosure, or full foreclosure stage and scheduled come up for auction, visit this online resource, and, once there, click on the ‘foreclosure’ tab located near the top-right of the screen.
(Title photo credit: Jeff Turner)
There’s no doubt that if you’re interested in saving cash on any sort of goods, property or items, the bargains that can be obtained at local or federal seized property auctions are positively unparalleled. Everyone knows, or has heard, about people managing to snag incredible deals at such seized property auctions. Yes, a lot of people know this — but, not a lot of people seem to be regularly taking advantage of the low prices for quality goods that these local, federal or state seized property auctions offer. Why is this?
Most people, when in the market for some sort of high-priced item, having heard of seized property auctions, spend a token amount of time investigating them. And, as is regularly the case, quickly become frustrated because finding such seized property auctions proves difficult. They try once, don’t have much luck finding any seized property auctions, and from then on they never try again. From then on, their opinion is that what they’ve heard about seized property auctions and the deals that are available at them is just some sort of hype, or that actually finding seized property auctions is really more trouble than its worth.
If you’re like most people who have looked into taking advantage of such state, federal or local seized property auctions, chances are extremely good that you’ve had a similar experience. The truth of the matter is that taking advantage of seized property auctions, finding them, and actually obtaining amazing deals on items that you’re interested in acquiring is much easier said than done.
Traditionally, government seized property auctions are not well advertised and promoted. There’s two main reasons for this: The first reason is that, counter to what might be intuitive, the government agencies that operate these seized property auctions actually want to keep the competition amongst bidders to a minimum. This attracts the big players — the professional liquidators and other such business professionals that buy and buy and buy, and have the means to drop huge amounts of money on the big lots.
If such pros are constantly dealing with a swarm of (what they consider to be) gnats (the little guy — the private, independent individual), they’ll go elsewhere. The real pros view this as an inconvenience and an impediment to their ability to do business smoothly. The operators of government seized property auctions welcome all bidders, big and small — they have to. But, if they had their way, they’d limit the seized property auctions to just the big fish — the big time business players that will think nothing of dropping $10k on a lot of, say, 500 assorted pieces of office electronics, or a lot of 50 industrial arc-welders. The big players have big money. And that’s very attractive to the government agencies operating seized property auctions. And, the big players with the big money don’t like the annoyance of having to compete with a bunch of little players.
The second reason is that there really is just no pressing incentive to advertise seized property auctions widely, while there most certainly is incentive to keep costs to an absolute minimum. Remember, the whole shtick behind seized property auctions — what makes them so attractive to the big bidders — is that the merchandise is available for ridiculously low cost. Advertising is an added cost for the operators of seized property auctions — an added cost that, if incurred, reduces the profit able to be made by the auctioning department from the already razor-thin profit margins obtained on the individual items or lots.
The big players that fuel the seized property auctions don’t need advertising to know when and where these seized property auctions are taking place — it’s their business to know. They’ve usually spent years in developing the right professional contacts and putting a system in place to effectively keep abreast of upcoming seized property auctions.
Seized Property Auctions — The Where and When
So, if you’re not one of these big players, where does that leave you? How can you find these local, state and federal seized property auctions? Luckily, it’s not as difficult as it may at first appear.
The best way, hands down, is to take a page from the big players themselves. One of the methods the pros employ is to use the services of a government seized property auctions locating service. There are companies out there who act as service bureaus to auction buyers and interested parties looking to score deals at private and government seized property auctions. One such service is GovernmentAuctions.Org. However, there are a number of these companies currently in operation. Information on another popular seized property auctions locating service can be found at this link. And, yet another is located here. Yet another can be found at this link.
These locating services do all of the work in finding these unadvertised government seized property auctions that are coming up all across the country. You simply inform them of the locations you’re interested in — the locations you have easy access to — and when one of these seized property auctions is scheduled to happen, they’ll inform you regarding all of the information you need so that you can attend and take full advantage. It’s an invaluable service for anyone looking to obtain hefty bargains at seized property auctions. If you’re actually thinking about perhaps getting into a full-time, or just a side business, or revenue generating hobby buying low at seized property auctions and selling high, then a quality auction locating service such as one or more of the ones mentioned above is an absolutely indispensable tool!