Are you wondering how to find storage units up for bid? An introduction for anyone eager to uncover hidden gems, bidding on storage unit auctions could be just the adventure for them. Featured on popular TV shows like Storage Wars, these auctions provide real world opportunities to acquire high-value items at fractions of their original costs. Discovering auctioned storage facilities may be an exciting and productive experience, regardless of your level of expertise bidding.
Here, we cover everything you need to know about how to find storage units up for bid, from understanding bidding procedures and strategies for successful auctions, all the way down to tips for winning bids!
A storage unit auction occurs when individuals or businesses fail to pay rent on their storage units on time, leaving the contents up for bidding at auctions held either physically or digitally. Bidders may view what's inside from outside or view photos depending on which format of auction they attend.
Now as you know how to find storage units up for bid. The next thing is why are they up for bid? Storage units typically go up for bid due to nonpayment of rental fees. Storage companies need to manage their space efficiently, which means unpaid units simply can't accumulate without consequence. Once someone fails to make payments (typically 3 months or longer), their storage company has legal standing to auction off contents of that unit in order to recoup losses sustained through non-payment of rent fees.
How to find storage units up for bid has never been simpler thanks to both online and offline options available today. Here are a few effective strategies for doing just this:
The Internet has revolutionized storage auctions by making them accessible worldwide. There are various websites where bids on storage units can be easily placed including:
StorageTreasures.com: One of the premier online platforms for auctioning storage units, StorageTreasures enables users to browse listings, view photos and place bids right through its platform.
Bid13.com: This platform hosts auctions from various storage facilities. You can narrow the auction results based on location, bid status and closing time filters.
Lockerfox.com: Lockerfox is another leading platform offering both live and online auctions of storage units for bid. Their listings provide clear listings with clear details regarding each storage unit up for auction; online platforms allow flexibility of participation from within your own home!
Many storage facilities host live auctions regularly. When new units become available, companies such as Storage Inn often host live or online auctions for them. Just call them directly or visit their website to gain more details of upcoming auctions.
Some states mandate storage facilities post public notices regarding forthcoming auctions in local newspapers or on online bulletin boards. Websites like AuctionZip allow you to search auctions near your area.
Now that we know how to find storage units up for bid, let's cover some practical strategies for increasing our chances of success:
Do Your Research: Upon arriving at a storage facility, conduct some investigation in order to gain more knowledge on what has been stored there and its location may offer clues as to its contents.
Prepare Your Budget: Bidding can become addictively exciting; always prepare a clear budget. Take into account additional costs such as moving, storage fees or disposal.
Form A Plan: When attending in-person auctions, plan ahead. Arrive early, observe other bidders and follow your plan, no emotional bidding!
Assess Condition of Items: Even if you can't touch an item before purchase, inspecting what can be seen from outside or viewing photos online can still provide valuable insight. Don't overvalue items solely on appearance alone take this extra step before making a final decision about purchasing an item!
After knowing how to find storage units up for bid, you should also know what to expect at a storage unit auction.
At in-person auctions, bidding processes tend to move swiftly. You won't have much time to examine a storage unit's contents prior to bidding commencing and most facilities open their door so potential bidders can view contents from a distance without actually entering.
Online auctions allow buyers to view photos and read descriptions of units for sale online, giving more time for an informed decision making process; but do keep in mind that photos may not reveal all aspects of what's inside.
Beware of how to find storage units up for bid if you are interested in auctions. Auction storage units can provide an exhilarating way of finding valuable items while experiencing the thrill of competition. By knowing where and when the auctions take place, setting a realistic budget, and understanding their bidding processes you can maximize their effectiveness and find some real gems among their offerings.
Q1. Can I view the unit before bidding?
In most cases, only an outside view will allow you to observe what items may be present within it prior to bidding on them. No touching or inspection are usually allowed before bidding takes place.
Q2. Are Storage Unit Auctions Legal?
Storage facilities have the legal right to auction off units when tenants fail to pay their rental fees according to established procedures, should any auction take place.
Q3. What happens if I win an auction?
Once won, payment of auction price and deposit are required before clearing out of the unit (usually 24-48 hours).
Q4. Can Storage units hold furniture, electronics & collectibles?
When renting storage space, one might expect items such as furniture, electronics and collectibles but often this does not exceed just everyday household goods in some units.
Q5. Can bidding on storage units be profitable?
This depends entirely on their content. Some units contain valuable items that you could resell easily while others may contain less desirable ones that you need to deal with right away.