Storage auctions are a great way to get rid of items you don’t need anymore. There are a few things you need to have on hand to make the most of this experience. First, make sure you have a vehicle to carry all your items. It’s also a good idea to bring a pair of gloves and a lock. A good pair of gloves is essential for sweeping out the unit once you have finished bidding. Another essential is a padlock to keep your unit locked after you win it.
The storage auction company will usually allow you to inspect the unit before you place your bid. If you’re unsure about what’s inside, you can ask the company representative to cut the lock and open the door. You can then decide how much the unit is worth by determining its contents. For example, a unit that’s mostly empty would probably be worth less than $10, while a unit with a lot of power tools and other items could fetch hundreds of dollars. The storage auction company will lock the doors once the bidding has begun, and the winner will be responsible for paying a cleaning deposit. In most cases, the cleaning deposit will cost $100 to $200.
The auction process can take as little as two minutes. The winning bidder must be prepared to pay in cash after the sale. The winning bidder must then follow the agreed upon procedure to remove their items. The winning bidder should remain calm and respectful during the auction. Be aware that storage auctions are highly competitive and that you should not expect an extravagant unit. Instead, have a realistic idea of the amount of money you’re willing to spend. This way, you won’t waste money on something you don’t need.
While storage auctions are open to the public, you should remember to bring legal identification and arrive at least 15 minutes early. Some storage facilities may require registration and may run a timed auction. It’s best to arrive early, as the facilities may run behind schedule. You should also take note of the end date of the auction.
Lastly, it’s important to check whether there are any regulations that govern storage auctions in your area. Several states require that storage companies notify the tenant before auctioning off their items. Generally, a storage auction can be held as early as 30 days after the renter stops paying. While these laws are different for each state, you should understand the rules governing such events.
When attending a storage auction, make sure you have the space and time to sort through the contents of the unit. It’s against the rules to open boxes before bidding. This is not only unethical, but could also put you in danger of trespassing. Before you start bidding, make sure you’re prepared with a strategy to turn your inventory into cash. It’s also important to bring cash or check.