If you have never heard or participated in state repo auctions, you do not know what is missing. At one of these free public auctions, there are deals for the return and cleaning of cars and real estate that cannot be beaten anywhere. If you are 18 or older and you have a valid driver's license or ID, you can participate in one of these money saving events.
There are two types of items that you will find at a government repo auction; the returned and seized property received as a result of criminal investigations and prosecutions, as well as non-fulfillment of obligations for loans or tax arrears. The government uses these auctions to save money on storage costs for a large number of properties that they seize every month. They can also offset most of the administrative costs associated with processing these goods, saving taxpayers with hard-earned money.
Since the government is not interested in making a profit, but simply wants to cover its costs, the starting rates at these auctions are usually very low. If you research your choices before a deal, there is a good chance that you can save on the fact that you decide to bid.
Here's what you can find at one of these free public auctions:
1. All makes and models of vehicles. You will find cars, trucks, SUVs, RVs and motorcycles, well below the market. Many of these cars are less than a year old and are in excellent condition. Most closed vehicles are the result of arrests and prosecutions in law enforcement, which in many cases means that they are high-end vehicles. Being able to score a luxury sedan, a sports car, or fool an SUV for less than the cost of the Blue Book is one of the big draws of these auctions.
2. All types of real estate, which include single-family homes, luxury holiday homes and businesses with all the equipment, commercial real estate and undeveloped land. For those who want to use property as an investment tool, the government auction house can be a great place to start.
Online participation is also an option in the Internet era. Internet auction sites provide updated lists of when and where these auctions are held, as well as updated lists of all items that can be bid. This gives you the opportunity to conduct the necessary research in advance to help you decide what is worth, and what type of betting package you prefer.
