What’s the process for storage unit auctions?

In this episode of Flex TV, we cover the process of storage units being sold through public auctions. Discover the step-by-step procedure involved in storage unit auctions, from the initial stages of payment delinquency to the actual auction itself. Our storage expert breaks down the legalities, procedures, and factors that determine how these auctions are […]

Today i have a question from sam who wants to know what’s the process for storage unit auctions now for those of you who don’t know if someone has a storage unit and they’ve abandoned it or they fail to pay for an extended period of time depending on a policy usually around 90 days the storage facility legally owns the contents of the abandoned unit and many times they will want to auction it off in order to cover their expenses from the tenant who did not pay so in these events there are normally two types of auctions the first is a blind auction in a blind auction the contents of the storage units are sold as a whole in a blind way meaning you’re not going to know what they are so in this process it’s a bid that’s also kind of a gamble because you’re bidding on something that you don’t actually know the value of for sure so you’re going to be bidding the winning bid gets the storage contents it’s opened and only after you’ve won the bid you know what was actually inside the second type of auction is an open auction meaning a regular auction where items are sold one by one and you can bid on them based on the value that you perceive them to have if you’re looking to participate as a bidder and an auction you can simply go to your favorite search engine and type in storage unit auctions storage unit to do blind auctions, whatever you prefer, and you’re going to find plenty. They happen all the time. They’re everywhere. It’s not even a problem.

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