How Storage Unit Auctions Are Profitable
A storage unit auction is great in that it allows you to get various items at a lower rate. These auctions are conducted by facilities that offer storage services for storage units that are abandoned without rent fees for a certain time. Such an auction is conducted by a storage provider to recover the money due in terms of rent.
A storage unit auction does not happen when a storage company feels like conducting one. These auctions are regulated to protect the legal rights of item owners and there are accordingly intricate procedures that need to be gone through before the disposal of the items. These procedures involve the sending of letters to the tenant of the storage units, warning them about the consequences of failure to clear their rent. If tenants do not respond, storage companies then place classified ads regarding the auctions for abandonded units. Different governments define the time period between the classified ads and the sales. A tenant can halt an auction anytime before the sale by clearing the rent dues.
So, how do you take part in such an auction? A storage unit auction may be open/public bid auction where the abandoned units are shown and those who are interested are permitted to walk around them to see what is kept inside. You then write your bid on a paper, indicating your name and your contact information. The person with the highest bid wins the unit and he/she then pays the storage auction money and receives everything from the storage unit, normally within 48 hours. You could also take part in a live auction. With this method, you can look at what is in the unit. Live bidding is then conducted with the bidders trying to outbid each other, just like is the case with a public auction. Yet another bidding alternative is the sealed auction. With this option, you do not get to see what is inside the unit. The stuffs of the unit will only be revealed to the highest bidder after he/she has paid for the unit.
If you are a businessperson, you could benefit a lot from a storage unit auction. The major advantage of such an auction is that you will get quite valuable things for a fraction of their price. You may sell the items in your store, sell them in an e-commerce website, or sell them in internet marketplaces such as eBay.
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