why do storage units go up for auction
To protect themselves and to prevent wrongful sales of property, storage unit companies generally make several attempts to contact delinquent tenants either through phone, email or though notices of non-payment mailed directly to them. However, a lien can legally be placed on a unit as little as 30 days after a missed payment. Once auctioned off, the contents of a unit legally belong to the winner of the bid and the previous unit renter has no legal right to the items.
For the bidders, all items received are sold "as is," therefore it is buyer beware when it comes to the contents of a unit so bidders should be aware of the the contents of the unit and its value before deciding to place a bid.
Storage unit auctions allow the public to bid on the contents of a storage unit that was rented by someone.
If the renter stops paying the monthly fee on the storage unit, the rental company must go through a series of actions in order to secure the legal right to auction off whatever is inside. The procedure varies from state to state and sometimes from county to county. The general rules are that the storage company must send the renter a specific number of letters, which must all be certified to ensure that the renter receives them.
Then, the storage company usually must place an ad in the classified section of the local newspaper advertising the auction of the storage items. The state or country will mandate how long the ads must run and how long the auction company must wait for the renter to respond before it can auction off the storage contents.
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