When self storage tenants abandon their rental unit, or simply stop paying, the self storage business legally places a lien on the contents and auctions off the unit as a whole to recover the losses of unpaid rent. We are suddenly bringing this profitable, fun and empowering activity to the masses with an online auction system created specifically for storage auctions. Below we talk about the highlights of how they operate from the lien process to the actual purchasing of the unit. Get started today - you never know what will be in the next box.
The Live Auction Problem
|Time and travel expenses for live auctions hinder profits||Bid only on units you want, then drive to pick them up.|
|Contents are completely unknown until time of auction||Detailed ad listings display numerous photos and itemized content.|
|Live auctions are difficult to attend and not punctual||Bid on storage auctions from anywhere, anytime.|
|Time is extremely limited to decipher contents and bid||Auctions are open for multiple days, allowing plenty of time to bid.|
Anyone. Bidding on our self storage lien sales is completely open to the public. You must be able to meet the terms & conditions of each specific storage company which are clearly stated in each ad listing (typically they are simple and just require you to completely clear out the storage unit and pay in full within 24-48 hours).
Self storage businesses are everywhere from small rural towns to large metropolitan areas - they all operate under the same set of state-enforced rules. Once a renter / tenant is delinquent 30 days after their rent is due, the owner / self storage business has the power to place a lien on that rented storage unit.
After the required legal protocol is executed by the owner / self storage business and a state-enforced specific duration of time has passed to allow for the renter / tenant to pay their debt, a public sale can be held. This public sale, or storage auction, is designed for the self storage business in an attempt to collect on the money that is owed in unpaid rent.
When are they posted? Storage auctions are posted to our site at various times, each specific to the selller / self storage business. Follow us on Twitter to receive up-to-the-minute alerts when auctions open and when they are about to close.
How long do the storage auctions run? This depends on the seller / self storage business as well, but typically they run on SealedOnlineBids.com for two weeks.
The answer is easy - currently two options exist:
Convenience and efficiency are the key benefits of buying storage units online. The buyer can now pick and choose what to bid on, and drive only to get the units won.
Self storage auctions are exclusively held online only at SealedOnlineBids.com. As far as the physical locations of the contents, that information is listed in each auction advertisement listing. Make note, you must be able to drive to the location of the contents within the specified amount of time, all stated in the ad listing (they typically allow 24-48 hours to pick up the purchased contents).
The following are common rules, terms and conditions that will apply to every storage auction conducted here at Sealed Online Bids.
A simple 10% Buyer's Fee is charged to the winning bidder with each closing auction. This is in addition to the selling price of the storage unit.
To explain, if an auction closes for $200, that $200 selling price is remitted directly to the storage company. Most self storage businesses accept cash in person (given to the site manager at the location of the contents you purchased), or some may accept credit card over the phone, credit card in person, or PayPal if indicated in the ad listing.
The 10% Buyer Fee is a separate amount paid to Sealed Online Bids. Our system automatically scans for any unpaid Buyer Fee balances and will charge your card in file within 24 hours after the auction closes. If you would prefer to pay us by using any credit card you prefer, or PayPal, you are more than welcome to pay us after your auction closes. Simply click the Make Payment button in the upper right, next to the Sign In link.
Membership is free and you'll be bidding in minutes.
Questions? We will get back to you on the same day.
Get all your answers right now - we assure it.
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