Are There Bargains @ Gov't Auctions
Imagine buying a home for pennies on the dollar or a luxury yacht for a fraction of its value. Unscrupulous advertisers would like you to think this is possible, and only they have the inside scoop on how to do it.
What don't these people want you to know? First, the US government does auction homes, cars, and other surplus property, but these items sell for their fair market value. The property is appraised prior to the sale and will not be sold if the bids are too low.
The inside scoop on government auctions is available for free from the US government. All these publishers have done is to copy government information and repackage it.
The old saying, "You get what you pay for," applies to government auctions as well. Most of the property is sold "as is" and "where is." The buyer is responsible for retrieving the property, even if it requires a crane to load it on a rail car. After transportation costs, it may not be such a bargain.
Is it possible to buy property for ridiculously low prices? Yes, but the cost reflects the condition of the item. For instance, the line that you can buy a jeep for $1.00 may be true because the vehicle has been crushed and is completely unusable. Even then, the value of the scrap iron would probably be more than $1.00 and the government will auction the heap at fair market value.
The Federal Trade Commission recently charged several companies with making fraudulent claims regarding government auctions. These guides were selling from $50.00 to $100.00 each, and all were comprised of very general information about government auctions. One company sent other manuals in addition to the one being ordered, charging for them without the consumer's consent. How is that for audacity? Of course, a refund was next to impossible to get.
Many government agencies maintain websites so instead of sending money for an "auction guide" let your browser do the walking.
Government Auction Resources
Copyright © 1998-2001 Antaean Systems
All rights reserved.
