Buying Repos for Sale Online Can Save You Money
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There’s nothing quite like the feeling of getting a killer deal when you buy something. And one of the best places to get big discounts is finding repos for sale at free public auctions. Federal, state, and local governments auction off repossessed properties that they have seized through various legal means. Banks and other financial institutions also come into possession of various properties that have been seized when loans go into default.
These types of auctions have been happening for years but until the online auction sites began to show up most people didn’t know they existed. Now you can find out not only when and where the nearest repo auction is going to be held but you can also look through the offering right from the comfort of your computer chair.
Government agencies, banks, and financial institutions repossess so much stuff every month that it is cost prohibitive to attempt to store it. Most of these agencies simply auction off these properties to save money on storage costs and recoup some of the administrative costs associated with the defaulted loans, back taxes, or tax liens that were filed against the properties.
So just what might you find for sale at a repo auction near you?
1. Vehicles of all shapes and sizes. The most common items to be found at one of these auctions are cars, trucks, and SUVs. Depending on the size of the auction you will also find boats, motorcycles, recreational vehicles, ATVs, and even aircraft. And with low starting bids the prices are hard to beat.
2. Real estate foreclosures are at an all time high and nearly all these properties will show up at auction. Everything from homes, businesses, to undeveloped land can be found and at prices well below the appraised value.
3. Furniture, household items, and electronics are also seized and repossessed on a daily basis. Many times they are seized at the same time as a home or other piece of real estate is repossessed. Flat screen TVs, video games consoles, stereo equipment, computers, all types of furniture, kitchen supplies, and just about anything else you can think of can be bought at big savings.
4. And last but not least you can also bid on art work, antiques, jewelry, and in many cases designer clothing. It is really quite amazing at what gets repossessed that you can find at these auctions.
Free government auctions are great places to find repos for sale. One of the best ways to find these auctions is to join an online auction site which will give you a distinct advantage over those who choose not to use these services. Knowing what items will be up for bid gives you a chance to research your choices before you even start bidding.
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Source by Andrew Bicknell
