Storage Building Auctions: An Inexperienced Buyer’s Guide To Real Life Storage Locker Liquidation

You may see reality shows on television about storage auctions and how dramatic they can be, but in real life, the liquidation of storage locker contents is nowhere near as dramatic. However, there is one thing that is true: buying the contents of storage units at auction can get you some pretty good items at a very inexpensive price. If you are just starting to consider heading out to a storage unit auction near you, it is likely that you have a few questions about the process. Here are a few of the most common questions about storage unit auctions.

What is the best way to find storage unit auctions?

Not every storage facility holds auctions on the contents of abandoned lockers, but those that do will typically advertise upcoming auctions on their websites. It is also a good idea to ask around at local consignment or thrift stores, as many of these businesses often attend storage facility auctions.

What fees are involved if you have the winning bid on a unit?

If you have the winning bid on a storage unit, there will be a few additional fees tacked on to the overall cost. You will be charged an auctioneer's fee, which is usually a small percentage of the sale price and you may be charged sales tax depending on where you live.

Do you have to take everything in the storage unit of you win?

If you place a bid and win the contents of a storage unit, you are basically buying everything inside. The storage facility usually holds an auction because they do not have the time that it takes to go through all of the contents of a locker and clean it out. This means that you will be responsible for clearing the unit completely before you leave -- even the items that you may not necessarily want.

Should you be concerned about taking ownership of someone's old property?

When a customer abandons a storage unit, they are fully aware that they are forfeiting their ownership of the items inside. This is typically made known in a contract at the initial term of the rental and extensive measures will be taken to obtain past due charges before an auction is held.

If you are looking for a way to get your hands on some interesting odds and ends that someone has abandoned in a storage unit, it is a good idea to familiarize yourself with the process. Talk to a storage facility representative about upcoming auctions and any questions that you have. One place that you may consider contacting is Capitol City Mini Storage.