Obtaining property through a government auction can often be very beneficial for the buyer. However, there can be many legal issues involved that must be approached carefully. You may need to hire a real estate lawyer for assistance when participating in a seized property auction. Your attorney can provide representation and can help represent you in court if you need to attend court hearings.
Heard the promises of $100 retired military Jeeps and $500 luxury cars confiscated in drug raids? You've likely seen the newspaper ads, flyers and infomercials that were so popular in recent years as part of get-rich-quick schemes, promising to show us how to buy luxury automobiles at a small fraction of their real worth through government auctions.
The goods you buy from government auctions are “as is.” Look on the “Terms and Conditions” page before bidding to understand the process. A typical auction page states, for example, that the auction site doesn’t guarantee the quality of the product in any way. Once you bid, you enter a legally binding contract, and you need to follow through with your bid.
CARE AUTO AUCTION, INC SINCE 1981 STATE ROUTE 22 EAST GAS CITY, IN 46933 PHONE 765 674 7768 BIG AUTO AUCTION--PUBLIC INVITED TO BUY OR SELL VEHICLES EVERY SATURDAY 6:30 PM UP FOR BID THIS SATURDAY30+VEHICLES SELLS NO RESERVESCRATCH & DENTREPOSSESSIONSIN-OPSGOOD TITLES CARS TRUCKS AND 4X4S SUVS VANS COMMERCIAL VEHICLES COME EARLY AND CHECK THESE BARGAINS OUT WATCH FOR OUR [ View Full Listing ]
Lot: 1000 - Numismatic Related Books & Auction Catalogs 7 Books & Auction Catalogs, Numismatics related. Private & Fractional Gold 1) California Coiners and Assayers 2)California Gold, Dollars,Half Dollars,Quarter Dollars 3)Adams' Official Premium List of U.S. Private and Territorial Gold Coins Lot: 1001 - Carson City Mint History Group (63959) 2 VHS tapes, 2 Gold Coins [ View Full Listing ]
Former Aspire Fitness location assets are being sold on behalf of the secured creditor . Assets will be sold in public online auction. Auction Including: Treadmills, Ellipticals, Stair Steppers, Recumbent Bikes, Rowing Machines, Cable Machines, Plate Loaded Machines, Free Weights, Calisthenic Machines, Bench Press Benches, Dumbbell Racks, Tanning Beds, Office Supplies, Kids Toys and much more.
U.S. Marshal's Service Auctions : And finally, the U.S. Marshal's service auctions off some true bling as part of its mission to "combat major criminal activity by disrupting and dismantling illegal enterprises" and "depriving criminals of the proceeds of illegal activity." Once again, there is real estate, but also businesses, cash cars, collectibles — and more.
This site advertises auctions of seized Real Property for sale throughout the United States and Puerto Rico and includes single and multi-family residences; commercial and residential land; commercial buildings and warehouses; and operating businesses. These properties have been seized and forfeited due to violations of federal laws enforced by the U.S. Department of the Treasury. Participating enforcement agencies include: IRS-Criminal Investigations Division, Immigration and Customs Enforcement, and the U.S. Secret Service. All proceeds from the sale of property are deposited in the U.S. Treasury Asset Forfeiture Fund. This fund helps support continued law enforcement efforts and provide restitution to crime victims.
Seized property disputes can sometimes arise for various reasons. For instance, financing and mortgage issues can still arise, as the buyer still needs to find their own financing for the home purchase. Less common are other issues such as title defects and other concerns with the title. Since the sale is usually due to a judicial intervention, quiet title proceedings are usually not involved. However, a quiet title proceeding can be necessary in instances where the buyer discovers a defect with the title.
I returned home wishing I had never gone to this auction, because as someone trying to get over his junky-vehicle hoarding tendencies, I’m not strong enough to handle this kind of temptation. Sure, many of these cars were junk, but they were dirt cheap. And since most were impounded for some sort of driving infraction, there’s a decent chance they move under their own power.
If it looks too good to be true, chances are it is, and there’s a simple reason why. While bodywork is expensive, it pales in comparison to the kind of profit a car will turn if a high-bidding buyer doesn’t notice it. A thorough pre-bid inspection should hopefully illuminate any issues prior to putting down your money. For more info on what shoddy bodywork can hide, don’t forget to read our write-up on nine ways you can tell if a car has been in a wreck.