It's not surprising how reality TV shows have become so popular in recent years. Here in the United States we have some amazing programs to watch, especially if you enjoy bargain hunting and scoring a great deal.The latest of these reality shows is really entertaining and can get you pretty excited about bidding for the unknown profit potential of 'treasures' you may find in a well stocked Storage Unit.
In any economy there is always opportunity to benefit from a winning bid at Auction. We can all relate to how good that feels. You may well be wondering why there seems to be so many auctions happening? There is a simple answer to that question. The original renters have unfortunately fallen behind with their monthly rental payments and the storage unit companies are left with no other option than to levy a foreclosure on their units.
The private company that owns the storage facility gives the renter every opportunity to pay their dues. If the dues remain unpaid, they will then announce and advertise an auction in the local papers. Just watch what happens then! Both novice and experienced auction hunters appear out of nowhere and flock to the auction, eager to make a winning bid.
Cancellations
There are occasions when an auction will be cancelled at the last minute because the renter has managed to get the money to pay their dues. The companies are not allowed to proceed with their auctions when this happens; All auction hunters must then go home, or hopefully move on to the next storage unit that is scheduled for auction.
What you can expect during an auction
These auctions are less formal than real estate auctions - it's much more casual and the people just stand around a storage unit that is being auctioned off. All bids are given verbally, and the highest bid will, of course, win the auction. Congratulations, you have now won the auction and the unit manager requires you to pay for the goods.
In most cases you will have up to two days to pick up the contents of the unit. Knowing this, and anticipating winning the auction, you should be well prepared and have driven to the auction on a van or truck ready to clear out your treasure from the storage unit.
A Lot of Stuff
If you have ever used a storage unit you will appreciate how much stuff you can pack into the unit. We become masters at the logistics of packing our goods well so that we can save on rental costs...That makes the auction all the more exciting! The storage unit manager will often open the lock of the storage unit and show the contents of the unit to the audience. This really helps to stimulate an exciting auction.
Window of Opportunity
If you are a novice at storage unit auctions you need to realise that you only have a few seconds to have a peek at the contents of the storage unit before the bidding starts. This is where your powers of observation need to be sharp! You need to look for clear signs of potential profit in appliances,paintings, books etc. Things that you can easily resell online. Above all, observe how the professionals are operating, and follow and trust your intuition. Have Fun!
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