How To Bid on Abandoned Storage Units
Bidding on abandoned storage units is all the rage, due in part to a slew of popular TV shows glamorizing the industry. For a lucky bidder, it can indeed be lucrative, but buyers must be careful! Bid too high and the end result will be getting stuck with someone else’s junk.
People store items in storage units and then stop paying all the time. Finding one to bid on can be as easy as calling your local storage unit and asking when their next abandoned storage unit sale will take place. At that time, you can also ask any questions about the actual auction process.
- Generally, the owner of the storage facility gives everyone a chance to look at what is in the storage unit from the front door. No one is allowed to enter the storage unit or touch anything. You (and everyone else) will have to make a bid based on what is visible. It is important to bid only what you can recoup. If you can see some furniture that can bring you a couple of hundred dollars, then your top bid should be a couple hundred dollars. It is possible there are hidden treasures under piles of bags and boxes, but you can never be sure. Every storage unit purchase is a gamble. There will be several others bidding against you, so it is important not to overbid in the excitement of the auction.
- Winning bidders are expected to pay in cash at the end of the sale and usually, the units have to be completely emptied within 24 hours. Bring a suitable vehicle and someone who can help you load your winnings.