Storage Auction Tips for Successful Bidding in Fall River MA

storage-auctionGetting a storage for rent in Fall River is a great way to safeguard all of your belongings that you don’t have immediate room for in your home. Some people use storage units when they are between homes, working at a remote location, downsizing to a smaller house or apartment, as well as a host of other reasons. They pay a monthly fee to keep their things safe until they are able to retrieve them. Unfortunately, there are also many reasons why people fail to pay for their Fall River storage units or why they have to leave their belongings behind. Through sickness, financial crisis, relocation, joblessness or even death, sometimes the storage unit is forgotten or left behind.

The items that are left inside the discarded storage unit have to be removed by the storage company before they can rent the unit to a new client. In recent years, many storage facilities have begun doing storage auctions to allow bidders to come in, place bids on unseen storage units and purchase the items inside. Sometimes there are valuable items that can fetch a profit for the high bidder, but other times the things inside were only valuable to the person who put them there. In a way it is a gamble, but there are many experienced bidders who come to Affordable Storage auction events that know the ins and outs of bidding and can turn a good return for their efforts.

Why Host an Auction?

There are two reasons why storage facilities host a storage auction when a renter stops paying on the unit and leaves their belongings behind. The first is to get the items moved off the facility grounds so the unit can be cleaned and re-rented to a new client who needs storage for rent in Fall River. The second is to try and recuperate some of the lost income that was incurred when the client stopped paying on the Fall River storage units.

What Can I Expect at a Storage Auction?

Storage auction tips will vary depending on the type of auction that is taking place. Some Fall River storage units will be auctioned off via a live bidding process, like what you would see on a reality TV storage auction program. Other storage facilities prefer to use a sealed bidding process and award the items to the highest bidder. There are benefits and drawbacks to both approaches, but the results are the same. The winner is required to take the items according to the rules of the auction so the storage facility can re-rent the space as soon as possible.

Make sure to read the rules carefully when you attend an Affordable Storage auction before you bid on any storage units. Once the bidding process has finished, the high bidder needs to pay in a timely manner or forfeit the bid. Payment is typically required immediately after the auction or within 24 hours of the final call. Many storage facilities require cash as their preferred payment method, however each facility is different, which is why it is important to read the rules and know ahead of time what is expected.

What Are the Legal Considerations?

Much of the legal obligation surrounding storage unit auctions belongs to the storage facility itself. They must make several attempts to collect the delinquent rent through a variety of means before selling the property to prevent a wrongful sale. This protects not just the facility, but also the bidders. All of the items purchased in the Affordable Storage auction become the property of the high bidder and as sold “as is,” with no claims made by the storage facility or auctioneer as to the value or validity of the items inside.

BONUS TIP – If there is any question at all about the legality of the items inside, such as if the unit were to contain drugs, drug paraphernalia, stolen items or any other illicit property, the item in question would have to be forfeited to the local law enforcement. An investigation of all items within the storage would have to ensue and the high bidder would have to deal with law enforcement and the storage facility owner to ensure that everything is handled legally to avoid prosecution or investment losses.

Where Can I Find Storage Auctions in Southeastern Massachusetts?

If you are interested in taking these storage auction tips for a spin at your local storage for rent in Fall River, look no further than the Affordable Storage Fall River storage units. While auctions will depend on availability of abandoned storage units, there have been several Affordable Storage auction events in the past year. Just contact our main office to find out about any upcoming auctions of storage for rent in Fall River. You can also check local papers and online listings to find out about other auctions in the South Coast area.