How to Buy Repossessed Office Equipment

When offices receive foreclosure or vacate orders, the equipment inside often gets tied into the lien. The bank or landlord will hold and sell the property if it isn't removed before he puts the padlock on the door. Picking up this stuff requires a little knowledge of the different ways it is offloaded and sold.

Instructions

1. Find a dealer who specializes in repossessed and confiscated property. They may be listed under the heading of liquidators or used office equipment. These companies buy entire lots and will sell the pieces off to individuals and other companies in pieces or as a whole.

2. Check the auction notices in the paper. It is the law in most states that a public notice must be published when a repossession notice has been served. These auctions are the first source of buying directly. You can eliminate the middleman by going to the actual site on the day of the auction, since that is where the liquidators go.

3. Know the value of the office equipment you are considering to buy. You don't want to end up paying for used property the same price you could get it for new. On the other hand, you also don't want to miss any great opportunities by thinking the prices are too high. Many people get sticker shock when shopping for office equipment, particularly furniture.

4. Bring someone with you to the auction or liquidator's place who can test electronic equipment. While you may know your home computer system, big networked devices, fax machines and copiers can be really outdated or dysfunctional. You may not recognize the defects before you buy them.