How To Buy At Government Auctions Real Estate, Cars, And General Merchandise
What are government auctions and websites that offer them
Government auctions are public portals where citizens can buy goods or property seized by state agencies at reduced price. Surplus items and forfeitures can also be auctioned by government authorities. Below are some of the top sites for state auctioned items:
I) GovSales
govsales.gov/html/about-us.html
GovSales is a secure and user-friendly website that allows members of the public to find government assets that have been put on auction. Various items can be found on the platform for sale such as land, cars, houses, computers, jewelry and tools among others. Moreover, these assets are updated daily so that you can always find something new each time you log in.
How does it work?
GovSales.gov allows visitors to locate virtual auctions of their choice and proceed with the bidding, or alternatively find listings that are ready for live auctions. Typically, the items are auctioned for a certain period of time which is usually 7 days, and the person with the highest bid after this duration elapses goes forward to buy the product.
Additionally, the website regularly advertises when live auctions are occurring across the country, which are often scheduled and open to members of the public. Bidding on GovSales is quite simple, just click on the search box for properties you are interested in then choose the particular one you want to bid on. This will automatically direct you to the Sales Center auctioning that item, you then need to sign up with the Sales Center before placing your bid.
II) Municibid
https://municibid.com/about
Municibid is a 24/7 online auction site for government agencies, where they can sell their excess items or forfeitures directly to the citizens. Apart from state organs, you can also find products auctioned by schools and local authorities on the site. Some of the items found on this platform include cars, computers, boats, furniture and many others.
The auction site is owned by Greg Berry who founded it in June 2006. He previously worked as a councilman for Pottstown Borough where he saw the need to open a competitive bidding site for government property, after discovering that most local authorities were selling surplus items for very little money, since few people knew about their products for sale.
The first step to using Municibid is registering by choosing your account type, which can be a bidding or selling & bidding account. Only Canadian and US bidders are allowed on the site, and you need a valid American or Canadian credit card in order to place a bid.
III) IRS Treasury Auctions
treasury.gov/services/Pages/auctions_index.aspx
Statistics show that about 300 public auctions are done in the US to sell items forfeited due to federal law violations, or even nonpayment of IRS taxes. On the site, bidders can find merchandise such as vehicles, real estate, electronics, industrial equipment, boats and jewelry that have been seized by the IRS.
This is one of the most reputable platforms for those who want to know what are government auctions and websites offer them, simply because the site is owned by the IRS itself and not any other third party.
Before bidding on the IRS site, you are advised to read all legal notices covering redemption rights, title offered and nature of title. Payments can only be made by cash, a certified cashier’s or treasurer’s check from any bank or trust institution within the US. As well as an American postal or express money order.
In conclusion, government auctions provide a great opportunity for members of the public to buy forfeited items cheaply. There are various items that you can bid on from these sites depending on your needs.
