If you stumble upon any sentence containing the term Government auctions while surfing the internet for automobile deals, you would naturally be curious to know more. After all, Government auctions are known to always have some real steal deals on any goods or property. But of course, these deals give you such a shock each time. This is because they are unbelievably good! You have a great bargain in the making when you participate in Government auctions.
What are Government auctions?
Most Governments at the local level or state level or federal level obtain a lot of seized property regularly. These could be automobiles like trucks and cars even. Other than that, property that comes under real-estate owned category also belongs to the government. These maybe seized from loan defaulters. Such seized possessions are also available with the police force as well. They also own such automobiles which they do not actually need. Now, if such Government agencies cannot spend time and money to maintain the automobiles or property, they naturally wish to dispose off the possessions as soon as possible. For this very purpose, we have Government auctions or police auctions.
Who is in charge of Government auctions?
The main authority for conducting such auctions is the General Services Administration. This body is mainly responsible for conducting the disposal procedure for Government-owned property and other possessions. They manage the newly obtained assets of the Government by inviting bids from the general public. Now, they have upgraded to allow bidding online even. There are other agencies that also come into possessions of trucks and cards that the agencies do not currently need. The Border Patrol, department of Treasury, the FBI and many more bodies has the authority to dispose off such possessions. Government banks also get hold of such property from the loan defaulters and auction them. Mostly, private auction companies come forward to conduct Government auctions and police auctions on payment. Local car auctions are held at many places throughout the nation.
What is the procedure?
The parties conducting these local car auctions set up a plan of events for the auctions in separate locations throughout the country. The preliminary requisites to participate in these auctions are the age criteria obviously. A bidder should be over 18 years of age to participate in such auctions. The bidders must also have legal and valid driving license at the time of auction.
Newspapers give the public regular updates about any such expected auction in that city or town.
The Government auctions give the bidders a day or two to come over and inspect the automobiles before they make their minds. When well – maintained automobiles are offered at good bargains, everyone wants to cash in! The competition is high and bids may go high as well! Once you win, you have to come up with the cash in time. There are financing schemes to help you out there. Do your homework well and make your dream deal!