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Auctions By Government By Joseph Hanoa What do governments do with their surplus and/or impounded merchandise? Surplus merchandise is government owned goods that are no longer needed. They may be office furnishings, guns, ships, buildings, office equipment. Also included in surplus merchandise is military equipment, Coast Guard equipment, and fire equipment. If there is a default on a government guaranteed mortgage that results in foreclosure, there are houses that are auctioned. The government also sells at auction goods that it has seized from criminals. This can include almost anything - cars, boats, planes, houses, jewelry, and antiques, any of their personal possessions because they were purchased with the proceeds acquired from criminal activities. All levels of government sell surplus and seized goods at auction. Information for all government auctions is available at Firstgov. gov. This includes federal, state and local governments.
When you look at the website you will find that each agency runs its own auctions in its own way. Some have their own auction sites on the internet where you can take part in the auction. All you have to do is register and follow their instructions. Other agencies send the goods to auctioneers to hold the auctions. Whatever, all of the pertinent information concerning the auction is available online. If the auction is for cars, there will be a viewing period given with the location. It is recommended that
you go and view the auction items before bidding on them. If it is a car do your best to check it out mechanically. They don't allow test drives but give it the best check that you can under the circumstances.
Since the different agencies hold and run their own auction, this means that they each have different rules and procedures. You have to read the sites to determine what the rules and procedures are for the different auctions. Be sure to follow them so your bid is not disqualified. Some auctions will accept sealed written bids. Again, the protocol will be stated on the website. The same is true regarding payment for auctioned items.
Purchasing items at government auctions is a good way to obtain various items at good prices. This is true even for houses and business buildings. But again, it is important to know the rules and procedures so you don't end up with sudden surprises. For example, if you buy a house at an IRS auction the original owner can buy it back within a certain time period.
Joseph is the proud owner of Gov Auctions, a website that willexplain everything you need to know about Auctions by the Government. We invite you to visit our site today and see what we have to offer.
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