December 13, 2011

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Government Auctions

Buy Seized Property, Cars, Trucks, SUVs for Pennies in the Dollar!

Hi, we’re going to let you in on the secret to buying homes, cars, boats, airplanes, motorcycles – even furniture, designer clothes and jewelry for waaay below the normal price. The property available for public bidding at government auctions is often surplus goods the government no longer needs or confiscated as evidence in criminal cases. Since government auctions are not well publicized, insiders can buy goods for pennies on the dollar.

You can get your share of the Billions of dollars worth of items and property that are auctioned off throughout the country by local, state, and federal agencies every year! Be the first in your area to find out where and when these amazing auctions are happening and save thousands of dollars on everything from cars to property and even jewelry. Get the inside track on auctions throughout the country.

OWN LUXURY GOODS AT WALL-MART PRICES

When the government auctions off property, all closing bids are final. Many people attending government auctions for the first time can’t believe the prices! Everything you buy at the auction is yours to keep – no strings attached. With prices this low, it feels like your stealing it – only it is yours to legally keep, courtesy of the government. If you have champagne taste but a beer budget, attend a government auction. Rolex brands have sold for Timex prices. Why buy a Ford when you can buy a Mercedes for the same price? Traveling? Put away your checkbook at the discount luggage store. Go to a government auction and spend the same money for Louis Vuitton or COACH! You never know what a government auction will have, but it can always be yours for a price well below fair market value. Start living the good life today – find the auctions most likely to have the designer goods you want here.

REMEMBER…YOU “DON’T NEED EXPERIENCE” TO BID AT A GOVERNMENT AUCTION

If you can hold up a bidding number, you can win at a government auction. Of course, with any auction, you will want to inspect the items you are interested in buying before the bidding begins. If you are interested in a computer, but could not turn it on to see if it worked, how much would a non-working computer be worth to you? Since all sales are final, there are no returns. Avoid disappointment, and don’t bid on anything you can’t personally inspect. Government auctions provide amazing values, but don’t lose your common sense in all the excitement. Know how much the items, cars or property is worth before the auction begins, and your experience at the government auction will be a positive one.

OUR OPINION ON THE BEST GOVERNMENT AUCTION WEBSITES OUT THERE

We signed up with the 18 most popular membership sites. Then we looked at the following categories:

  • Are there MANY LISTINGS or just a few?
  • Did they provide links to National, State, AND LOCAL sources?
  • Did they provide links to ONLINE AUCTIONS as well as in-person auctions?
  • Are the listings & links CURRENT, or old?
  • Are they updated FREQUENTLY?
  • Were DIRECT CONTACT NAMES & NUMBERS PROVIDED where appropriate?
  • Did the sites CHARGE YOU ONLY ONCE, or automatically renew and charge you?
  • Was there additional VALUE ADDED CONTENT?

Thats what this site is for: We’ve combed through almost every one of the sites to find out which ones give you the best listings, best information, and WONT RIP YOU OFF!

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December 13, 2011

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Government Auction Bidding Tips

A lot of people look for government auction bidding tips simply because these <a href=”http://www.dea-auctions.org/”>government auctions</a> usually offer very good deals on quality items like houses, cars, gadgets and many more at half the price.

The greatest thing about these public government auctions is that they’re totally legitimate. You are getting low prices because the items being sold in the auction were acquired by the government (federal or local) through foreclosures, tax debt penalties, arrests and more.

Now, even though the public auto auction or the more famous bel air auto auctions are legitimate, there are some events that aren’t funded or sponsored by the government. Believe it or not, there are some fake government auctions out there as well.

Well, if you are new to all this and you don’t know any public auction terms, then you will want to continue reading. I will give you the best government auction bidding tips to help you get the most out of your bids.

This will be your step by step guide to government auctions. Specifically, we will talk about what you need to do before, during and after bidding. We will also discuss some ways to avoid scams and some more general bidding tips.

Government Auction Bidding Tips: Step By Step

Although most government auctions are just like the usual private auctions, you still need to follow a few rules. If you are clueless about what to do, here are some pointers that you need to remember before you bid, while you are bidding and after the event itself.

Before Bidding:

  • Check the rules of the auction. You should never assume that one government auction’s rule is the same and applicable to the next one.
  • Research on what protection measures the auction site/manager has for buyers. This way, you will know the risks involved in this bidding event.
  • Have a clear idea on what exactly it is that you plan to bid on. Read the descriptions, examine the photographs, etc.
  • If you are not familiar with it, check the events map directions to make sure you won’t get lost on the way to the auction.
  • Be sceptical about the price of a product if it’s too low- especially if it’s supposed to be a collectible.
  • Do a background check on the seller.
  • Check up on the seller’s policy on warranty and refunds.
  • Find out the shipping or delivery terms- who pays for it?
  • If something is unclear, go and pick up the phone and ask the seller some questions.

During Bidding:

  • Decide on your top price or maximum price and stick to it. Bidding on a car at the Bel air auto auction is supposed to save you some money- so don’t overspend by not setting a spending limit for yourself.
  • Protect your privacy by not giving any critical information like your driver’s license number, Social Security number or bank account number.
  • Save all your transaction information and history.

After Bidding:

  • If you don’t win, check the upcoming events map to see if there are upcoming auctions that you can and would like to participate on.
  • If you won, make sure to talk to the seller about your personal information- shipping address, contact information and other pertinent things.
  • Get the seller’s information too so you can contact them if there are some problems or issues with your products.

How To Not Fall For Scams

Now, the thing is, there are a lot of government auction websites that are out today. Obviously, here is where many of the scammers lurk. If you do not want to fall for scams, then here is my government auction bidding tips for you:

• Examine the site carefully and answer these questions:

-      How updated are the listings?

-      How many listings are there?

-      Do the items look legit (hint: check price and canvass on the usual price of that item)?

• Check and verify all the sources or contact information on the site

• Does the site have a user-friendly interface?

• If the site has a membership fee, you should check out if they have flexible payment terms. Usually, if the only mode of payment is through credit cards, that should be a red flag to you.

• Make sure that the site has more than just listings- it should have a page for rules, shipping services, etc.

• The website must have customer support ready and accessible during bidding.

• Make sure that they have a reasonable refund or warranty policy. In fact, a legitimate government auction site will offer a full refund for items.

• The website must have a “how to” guide for bidders.

General Auction Bidding Tips

Now, bidding on government auctions is now much simpler to understand. In fact, just this year, the Legacy Treasury Direct option was abolished to make the whole process much easier and hassle-free.

But if you are still unsure as to whether or not you are ready to go out there and participate in the bidding wars, here are some more government auction bidding tips for you. You will find that some of them are common sense but you’d be surprised as to how many people forget these simple things.

Tip 1: Do Not Overspend Or Overbuy

Never bid more than what the item actually costs. Have an idea on how much that item you’re bidding on costs. This will help you get your full money’s worth.

Tip 2: Know Your Bidding Types

Some people go to a bidding auction and get lost in all the jargon that’s being used at the event. Now, usually, you will find that there are subcategories or different types of auctions:

Absolute Auction- this is a “normal” auction. In this type of auction, there is no minimum bid. The simple rule is, the item (property, auto, etc.) is handed over to the person with the highest bid.

Forced Sale Auction- in this type of auction, the person who owns the item being auctioned can place his or her own bids too. The items were “forced” from the owner so they are allowed to try and get it back. This is not allowed with the Absolute Auction.

Export Only Auction- this type of auction is perfect for merchants or exporters. In this setting, the bid winner must, within 30 days, export the item that he bought outside the United States.

Hidden Auctions- as you can guess from the name, a Hidden Auction is a closed auction and would usually contain the best deals. These are considered hidden because it is not advertised that much.

Tip 3: Go When It Rains

One of the downsides (even though it makes the auctions exciting) is competition. Well, if you want to experience a stress-free and competitive-free auction, choose an event where it is rainy or cold. Weather like this guarantees a low turnout.

December 13, 2011

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Foreclosed Property Auction

A thousand of homeowners in the United States who missed their mortgage payments for months would surely lose their homes due to foreclosure. While a number of people know the costs of defaulting on their home loan, only a few can really get an idea or understanding of the foreclosure process. The borrowers usually become interested in the legal process if they are already about to be ousted from their homes or properties. They could have avoided the dreaded process had they studied and examined how foreclosure works.

The whole foreclosure process begins whenever a borrower misses his mortgage payments. If you default for one or two months with your loan, foreclosure would not really set off provided you were able to update your debt. On the other hand, if default payments continue to occur for three or more months, lenders will usually start to send the borrower a late payment notice. A viable option is to contact your lender and explain your situation, and then ask for an extension. Ignoring late payment notices sent by lender will force the bank to evoke the acceleration clause, wherein the bank or the lender demands for the payment of your mortgage loan in full. In addition, the bank will also order a notice of default at the Office of County Recorder.

After the bank utilized the acceleration clause, the formal foreclosure process begins, meaning, if you do not pay the remaining mortgage balance in full as well as the legal damage, late charges, and other penalties within three months, you will be receiving a Notice of Sale, posted on the door of the property being foreclosed. The Notice of Sale would need to be recorded at the office of County Recorded and published in various local newspapers for a 21 day period.

Every foreclosure process ends up with the auctioning of your properties, also known as foreclosure or sheriff’s sale which can be participated by an individual who is 18 years of age and above. In addition the highest bidder must remember that the winning bid must be paid in full within 24 hours. The money from the auction will go first to the real property taxes owed by the homeowner then to the mortgage and other creditors. The homeowner will get a share for the remaining money from the auction.

Foreclosure is a legal proceeding in which a bank or lender sells or seizes a property due to the owner’s failure to fulfill the mortgage or deed of trust payment schedule. Lenders and banks usually consider a mortgage to be in default when payments have not been made for quite a few months. Regardless of being a dreaded word, a foreclosure can actually be particularly profitable for those looking to invest in troubled real estate.

After the whole foreclosure process, a foreclosure auction is next. Normally the owner will try to sell his/her assets before a foreclosure auction. However, if the owner is incapable of selling the property before the auction takes place, the trustee will auction the house off to the highest bidder. The one who often pays the outstanding debts including property taxes and amounts owed to the IRS in order to sell the house with a clear title is the bank or lender.

Attending and actually buying in a foreclosure property auction is a great experience unlike any other real estate purchasing, however it can sometimes prove to be risky, but often also profitable.  It is recommended that while you try to be part in foreclosure auctions you should consider observing first to get a hold on how the bidding process works and be familiar with the whole foreclosed property auction process. On some occasions a buyer is not allowed to check the property being auctioned and most likely discover unique financing to come up with the entire purchase price in cash in a short period of time. One of the risk in buying at a foreclosure auction is that the possibility that the former owner would exercise his right of redemption by coming up with the cash to buy the house back within a certain timeframe after the foreclosure sale, however many jurisdictions do not have the right of redemption provisions. Another advice is that IRS also has 120 days to trade in the property if back taxes are owed. It rarely happens if back taxes are indeed owed and the bank has not taken care of this prior to auction. The above mentioned risks in buying at a foreclosure property auction are what deters many reserved or timid bidders away, thus allow people to bid on the property with less completion.

If you choose to attend this kind of auction, make sure to research where they are held. Foreclosed property auctions are usually held at the property’s local courthouse or at the property itself.  For instance, the competition or bidding on foreclosed property auction can initially seem intimidating but don’t get discouraged because purchasing real estate through foreclosed property auction is profitable which is why a lot of investors consider doing it. If ever you are interested attending a foreclosure auction please consider the following tips:

  1. Verify and check the condition of the foreclosed properties and any existing debts including liens, owed taxes and prior construction debts.
  2. Search for auction rules and guidelines and how the auction process works.
  3. Prepare yourself financially. Decide for the maximum amount you would offer or bid on each auction and make sure not to go above it.

To know more about foreclosure procedure, you could research for the basic outline of each state and local government with specific laws and policies that may change. It is vital to know more about local foreclosure laws and foreclosure rights if ever you will face a foreclosure problem. Assistance from a legal associate is also highly recommended in dealing with foreclosure for it is a very meticulous procedure due to all the news laws, programs, and foreclosure alternatives.

December 13, 2011

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Government Seizures

Almost every day government agencies throughout the country take hold of all manner of personal property because of foreclosure, tax evasion, and criminal activities. Most government agencies such as General Services Administration, FBI, IRS, DEA, and U.S. Marshals offer various goods that have either been seized, unclaimed, or surplus items. By auctioning off these items, the involved government agencies recover much of their costs for conducting such seizures with their administrative costs. The IRS is the greatest source of seized items due to non-payment of taxes. Some examples are houses, parcels land, apartment buildings, farms and commercial buildings.

There are various ways to find sources of auctions, from the local newspapers to government websites and also through online companies that makes business by informing people regarding the auction. There are different government agencies providing a set of items to buy, and finding them through research in an online site which specializes in government auctions would spare you from annoyance and disappointment surfing the Web.

A preeminent membership-based website for bargain and government seize hunters’ assists its users search and get involved with government auctions of properties in the Unites States and Canada. The members can access its nationwide database of real estate foreclosure listings across the United States.

One popular way of government auction is online. Just like any other regular auction, it is quite a phenomenon and many government agencies across the country have grab upon this idea simply because of the fact that it reduces cost. The accumulated savings are then passed onto the auction participants in much lower prices for the item presented. But if you have lot of time on your hands, you can do the work yourself. You can get in touch with your local government agencies and ask them if, when, and where they will hold their auctions. You can also call and contact banks and other financial institutions and ask regarding the details of the auction.

The benefit from online auction service is the relative ease in looking for and checking the items being offered and simply doing research and bidding from the comfort of their home. Moreover, winning the auction is much like attending one in person, to the highest bidder goes the spoils. Reserve prices were mostly set for each item to guarantee that at least all administrative costs of the auction are met.

Some of the seized properties or items you can expect to find through an online government auction are the following:

All types of vehicles. It is better to consider buying a new car at an auction to find great deal. For instance, fleet vehicles for the government are leased by the U.S. General Services Administration and after the lease period these vehicles are auctioned off. The state police departments, Department of Transportation, city and county law enforcement agencies seize all vehicles and personal property because of different types of illegal activities. Items you would find are cars, coupes, vans, minivans, truck, SUVs, motorcycles, boats, and even aircraft. Typically, the items are less than two years old and in relatively good condition and bought at a better price.

These government-seized auctions for vehicles are happening all over the country. Hundreds of them are taking place every week. In addition, the government agencies that are funding or sponsoring these auctions desire to get as much as possible for these items, but many great bargains can be found mostly up to 90% off the retail price. One great tip to consider is that the government is not in the business of storing and selling vehicles, so they are very eager and willing to get rid of these items as soon as possible. However, you will not receive any warranty or guarantee as with many used car sales although doing a little research on your own will essentially reduce your risks. Understanding on current prices would help you avoid on bidding wars for the car you want.

Once you are successfully able to search where and when the auctions are being held online, you can then bid on these vehicles. If your bid is the winner, you will be given time in order to make necessary arrangements to purchase the item.

a.) Real estate. Properties whose owners have defaulted on loans or owe back taxes. Everything that the government may have in its possession, such as a single family homes of all sizes, parcels land and vacant homes, condominiums, or even hotels, bars, restaurants, ranches and other commercial real estate up for auction.

b.) Household items. All items or goods that are obtained through criminal activities will be seized by the government law enforcement agencies which include furniture, kitchen items, designer clothing and jewelry.

c.) Antiques and art collections. Art pieces such as paintings and sculptures, or any art collections like antique furniture, cars, and rugs will also be up for sale.

You can place your bid at several reputable online auction directories of government-seized properties that provides a searchable database to help you find the exact match of the item you are looking for, which helps save not just money but time in looking for an item you are interested in purchasing. Some companies charge a one-time fee for their services ranging from $30 to $50 and even offer a money back guarantee for unsatisfied services.

It is a cinch getting a great car, truck or even a boat at bargain price through online auctions, you just need to have fun doing it and be patient in hunting or researching dozens of companies that can provide you with instant information about upcoming auctions and buying what you want at an affordable price.

December 13, 2011

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How DEA Auctions Work

Nowadays, there are various government agencies that seize property for various reasons. One of the agencies that get the most interesting material is the United States Drug Enforcement Agency (DEA).

There are various types of items that the DEA comes into possession of for the reason of having transactions on different places and people. The items and properties end up at a government or DEA auction for the highest bidder to purchase them. They have no right holding on to the seized items and the added cash collected could help their agency to stay in operations.

The most obvious item you could find at a DEA auction will be all types of vehicles that range from cars, to trucks and SUVs and motorcycles. You would have good as well as varied selection on items. One thing that is not guaranteed is the quality, because most of the government-seized vehicles were used cars, so awareness is a MUST. You should know how to inspect or check the vehicle you are interested in buying before the auction. Vehicles to be auctioned would have mostly been marked down from the original retail value, but to have a successful auction you should have at least an understanding on expected pricing. Do not buy or purchase an item more than the retail value if possible. Other recreational vehicles can be found as well, which includes RVs, boats, and jet skis.

Other government-seized items beside vehicles are real estate. These include houses, parcels of land, condos, and buildings. Real estate property would be more expensive than the other items but can usually be purchased on significantly marked down amount for great savings. Moreover, this opportunity would be a great deal for emerging real estate agents or landlords to start a business. They could search for discounted property deals at these auctions, purchase and repair them, and resell them for profit. Like any other business, you should do a research and gather information on the items you would like to purchase.

Another hot item for government-seized auctions are electronics and household items including televisions, cameras, radios, DVD players, music players, laptops, computers, to name a few. People nowadays are fond of technology and a DEA auction is a great venue to find reasonably priced useful gadgets.

There are a number of ways to search for government or DEA auctions. Most of these sales do not happen all the time and notices will be posted if one will take place in local newspapers, and even through the power of internet. Online auctions of government seized-items are services available that let you look or search for local sales in your area. It basically sustains databases of all kinds of auctions and even the types of things you can typically find in stores.

If you are looking for a great deal of auction items such as used cars, do yourself a favor to look and check out a local auction. Just like property and equipment, automobiles are usually auctioned off by the government and other agencies for a variety of reasons. Receiving an invitation for such auctions is possible, which includes the lists of items being auction on that particular day, but do you know why were those items included for auction? What are the reasons why those items were seized? The following tips and guidelines were listed for your reference.

Identify what is being sold; why they up for are auction and where did they come from. In cases such as car auctions, they were either seized from loan defaulters, unclaimed, or excess vehicles. So instead of being stocked, these items are used as an alternative source of income, and thus are sold off through online and public auctions. A range of vehicles are available for being auctioned from sedans to trucks, SUVs, vans and even forklifts. Attendees of such auctions are all welcome as long as you are more than 18 years of age and have a valid driver’s license. The auctions are open to only licensed car dealers on some occasions.

Check who conducts the auctions. Most government auctions are sponsored by several government agencies. The General Services Administration (GSA) often conducts these auctions; other agencies are the Department of Treasury, Border Patrol, Federal Bureau of investigation (FBI), Drug Enforcement Administration (DEA), homeland security, U.S. Marshalls and the Internal Revenue Service (IRS). Some local, state and county governments perform auctions too. The vehicles that are seized due to law violation should be auctioned off by the city and county law enforcement, fire departments, state police and the city and county administrative departments. While banks and lending institutions should be the ones responsible in auctioning off cars that were seized from loan debtors, but in most cases, these auctions would be sponsored by a private auction by the government or the bank to make sure that the process and rules connected to the public auctions are followed.

Discover how auction items work. Identifying and researching where and when the auction would be held, the particular location, time, and usual schedule is dependent on the sponsors and availability of items. Advertisement and notification would be given to the public through notices placed in the local newspapers, in some cases; brochures are given out to the public as well.

Warranties or guarantees for items sold at government auctions that the money you pay for is worth the quality of the item, unless you buy the item from a professional auction company. Always be reminded that checking the quality as well as the pricing of new and used items you want to buy would be an advantage to get a sense of value on how well the item is supposed to work and to give you an idea to bid accordingly on the seized items.

December 13, 2011

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Why Government Auctions are useful

Government Auctions are auctions where in people can get amazing deals on items that have been seized by the government. Government Auctions are becoming increasingly popular as people are weary of paying retail. Every type of auction made available by the U.S. Government is covered by Government Auctions. An individual can get huge bargains at the auctions for things that have been detained by the government.

Vehicles can also be included in Repossession auctions. In order to recover the administrative costs, the government agencies try to sell the surplus, seized and unclaimed equities which are known as repossessed property. The cars that are auctioned can come from various sources like the police, financial lenders, banks etc.

A repossession car auction showcases cars that have been repossessed by the police or even the government for various reasons which could be legal as well as illegal.  The illegal reasons include failure to license, tax fraud etc.  Legal repossessions refer to those people who have not been able to afford the car so have therefore had it repossessed by the government. A number of repossessed cars at the repossession auctions are also cars or even vehicles that were used only for a particular period of time when bought by the government or the police and are no longer needed.

The government looks to get rid of all inventories at the earliest because the cost of hoarding such autos is very high. In fact the government is interested in saving money. As far as possible, one should try visiting such auctions as they promise better deals. There are chances of them getting cheated when they visit a double dealing car sales man. At these auctions, an individual can get all the possible information needed about the various autos in the market and that too at dirt cheap prices. But one should not be so quick to purchase the item on auction. A great deal of time and effort is necessary to make the best possible decision. One should inspect the car inside out just before the bidding starts. It is always advisable to do so, so as to avoid any problems in the future. Government Auctions is America’s most trusted and largest resource for Government car auctions. One can get instant access to any type of auto that one is interested in at affordable prices without having to waste a lot of money.

Not all people can actually afford a house as it is a very expensive affair. So the best alternative that they have is to purchase repossessed houses which are not so costly. An individual who already possesses a house can make it a business by buying a repo house during the auction. If the house is refurnished, painted and renovated, one can sell it at a higher price provided one has adequate assets to start the business. The real estate is a flourishing business, and if one has the ability to endure such a competition with the right amount of passion and drive, one can be successful.