When you want to get variety of items at a low price, storage Virginia Beach auctions are one of the events that you should never miss. Storage unit auctions are normally initiated by storage companies that don’t get paid by their tenants for a long period of time. Contract agreements with storage unit facilities specify the length of time that makes a tenant in default of his payments. Because storage companies need to recover the amount of money that they would have otherwise earned if their unit was rented to someone else, they are mandated by law to dispose of the stored items of a delinquent tenant by way of auctions.
Storage Virginia Beach auctions are done in an organized and systematic way. There are procedures that have to be followed in order to warrant legality of the auction. The storage company has to exhaust all possible means to get in touch with a delinquent tenant. All contact numbers indicated on their records should be used to attempt a communication. Letters should be sent out to the given address so that the concerned tenant will be properly informed of the status of their rented unit and allow them to have enough time to respond. Letters sent will also indicate consequences and repercussions of abandoning the rented unit. Should the tenants fail to respond within the alloted time, operators of the storage Virginia Beach facility will have no other recourse but to place ads and announce the impending auction. This ad will run for a specific time that’s mandated by the government. Within such period, the tenant still has the opportunity to settle the amount due and prevent the auction from happening.
Storage auctions are such unfortunate events especially for the owners of the stored items. However, these things really happen and there are a lot of instances when tenants become, for one reason or another, unable to settle their rental fees. This, in turn, becomes great opportunites for people looking for ways to save money in purchasing their items. When storage Virginia Beach companies hold an auction, you can attend and get the opportunity to acquire valuable items at big discounts and comparatively low costs.
These storage auctions are normally advertised not only in local newspapers but on the internet as well. For those who are actively looking for ways to save money, searching on the internet can help you find different schedules of storage Virginia Beach auctions. There are sealed bid auctions and live auctions. In sealed bid auctions, abandoned storage units are opened to the public and bidders are allowed to take a look for items that might catch their interest. They can bid on any items by writing on a small piece of paper, indicating their full name and contact information. Items are awarded to the highest bidder who, in turn, has to pay for the winning bid within 48 hours. Live auctions are held in public and bidding is done live. Like sealed bid auctions, winning bidder is the one with the highest bid.
Storage arrangements don’t always have to end in storage unit auctions. Find affordable storage Virginia Beach facilities by visiting Allsafestoraway.com and check units that fit your budget.