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About Government Auctions

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By Jeannie Knudson
eHow Contributing Writer
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About Government Auctions
About Government Auctions

Long before online auctions became popular, the United States Government had been auctioning off surplus goods and real estate to the public. Many seized and surplus items are auctioned off at deep discounts. Government agencies need to get rid of the items quickly, as more goods arrive daily. Anything from designer clothes and jewelry, to cars and even airplanes are found at a government auction.

From Quick Guide: Army Surplus Guide

    Function

  1. The Department of Housing and Urban Development (HUD) auctions off thousands of homes, land parcels and businesses across the country each year. Some auctions are sealed bids and others are auctioned off live with potential home buyers and investors vying for the bests deals.
  2. Types

  3. The U.S. Marshal's Office and the IRS hold auctions on a wide range of items. These surplus goods are acquired through government raids and seizures. Many smaller items such as jewelry, clothing and household goods are auctioned off online, through government websites, while others are auctioned live. Items available from the IRS and Marshal's offices are usually acquired from individuals and businesses for not paying taxes or other illegal activity.
  4. Features

  5. Even the United States Post Office auctions off unclaimed, undeliverable, damaged and otherwise abandoned merchandise. The Post Office usually holds live auctions several times a year in various parts of the country. The post office lists their auctions by date and location on the United States Postal Service website.
  6. Geography

  7. Government auctions can be found by contacting a state or national government agency, either online or by phone. Some agencies even have mailing lists that notify buyers of upcoming auctions. Several offices auction off surplus property several times a year after they have accumulated enough goods to hold a viable auction. These types of auctions are almost always live auctions and require the bidder or an authorized agent for the bidder to be present.
  8. Considerations

  9. Before bidding on expensive items such as vehicles or real estate, know that government auctions do not offer financing or warranties and require payment after the auction ends. Any inspections on items and property are the responsibility of the buyer as everything is sold "as is." In the case of real estate, the winning bidder pays a deposit and is usually allowed 30 days to pay and close on a property.
  10. Expert Insight

  11. Government agencies will offer most surplus goods and real estate to other government offices or nonprofit agencies before offering the property to the public, and some agencies will not sell property to government employees or their immediate family.

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