How to Find Local Storage Unit Default Auctions

Nearly every town in America has at least one self storage facility where residents can store their extra belongings or their whole household while moving. Due to inability to pay, evacuation or a multitude of other reasons, if the rent is not paid these units are sent to auction. In most cases anyone can attend these auctions and the potential for bargains in endless. The following few steps will illustrate how to find local auctions and a few auction basics.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Phone book
• Internet Access

1. There is no national database or website currently devoted to storage auctions, and each facility is able to choose its own method of advertising. The easiest way to find out about upcoming auctions is simply to scan the yellow pages for storage facilities in your area and call each of them to ask about their auction schedule.

2. It is a legal requirement in most states as well that any sale due to default in payment be preceded by a notice in the newspaper. You can check your local newspaper in the legal notices section on a regular basis and find out about storage auctions as well as many other kinds of default sales.

3. Storage auctions are normally held on site by either a professional auctioneer or by an employee of the storage company. Check with auction services and auctioneers in your area and you could not only find upcoming sales, but also get pointers and suggestions about auction terms and etiquette.

4. Most storage auctions are cash only so be sure to have plenty of cash available (at least $500 to $1,000) if you want to be able to compete on some of the more valuable units. You are also not allowed to step foot into the unit until it has been purchased so bring a good flashlight along so that you can get a better look from the door. Most storage facilities also require you to take immediate possession of the unit so bring a few padlocks along just in case you get lucky. You are usually given 24-48 hours to remove all of the items from inside your unit so be sure to have transportation and help ready.

Tips & Warnings

• Most storage auctions require you to sign in before the sale so be sure to check in with the office before the sale.
• Many auction services will have email or call lists. If you sign up it will make finding auctions easier in the future.

[godsong122]

on 9/28/2009 AUCTIONgram (http://auction-gram.com) has an auction alert notification service to find storage auction listings and receive auction alerts for local public auctions in your area.

[storage4profit]

on 9/14/2009 Great article, but so much more info. needed. I have been doing these for over 3 years now and have been successful and made a lot of money.

[aj4gr]

on 8/22/2009 Thanks, what a great article and even greater idea. <><

[highcloud]

on 8/20/2009 I will have to try this. Thanks 5*

[brooksponds]

on 8/2/2009 Sounds like a good way to find items that can be worth something.