Archive | November, 2011

Minnesota mortgage fraud

We haven’t seen this very often. An agent from Rosemount was sentenced to 3 years probation for fraud in the sale of houses, mostly in North Mineapolis. He was aparently invloved with 2 other men who owned a Roseville real estate company.

 

His part of the fraud? He agreed to close on up to 175 houses when he knew that many of the applications submitted for loans were fraudulent.

 

I would imagine if every mortgage broker in the US who pushed through loan applications knowing or suspecting the information contained in thoses applications was false were sent to jail, we would need to build a LOT of new jails to house them all.

 

Unfortunately only a very few who were responsible for the mess we are in will ever receive any punishment at all for their abuses.

Personal property at Minnesota auctions

Personal property at Minnesota auctions

A lot of people associate your typical Minnesota auctions or for example a Hennepin county sheriff sale with a great opportunity to find cheap homes and/or land. Yes that certainly can be the case, but what doesn’t get near enough press time as far as I’m concerned, is the vast diversity of other types personal property one can find there.  

Just about any item you can conceive of which somebody can own can end up at govt run Minnesota auctions. All of the obvious household items from big screen TVs, washing machines, computers, furniture of all kinds, rugs, clothing, paintings, jewellery and the list can just go on and on. And some items can be extremely valuable, such as antiques and collectables not to mention vehicles of all Makes and Models.  

And the great thing about government run Minnesota auctions is that in most cases the inventory just simply has to go. The items may have been obtained because of debt issues or because of criminal law enforcement activities but the issue of making a “profit” is not the primary motivation for holding the sale. The need to raise capital towards the debts owed, the costs of storage or just the need to get rid of used equipment in order to obtain new stock, frequently require these items to simply be dispersed and whatever price they bring is what they bring. The result can sometimes be prices you seriously would not believe.

Depending on which jurisdiction and which specific types of Minnesota auctions, there will be legal requirements for posting this information to the general public. And sometimes these requirements may be as little as a posting in the back pages of the local newspaper or tacking a notice on the courthouse bulletin board. It is lucky for those of us who are always on the lookout for a bargain that Governmental agencies in general are not good marketers. If they were, everyone would know exactly when, where and what inventory was going to be available at all Minnesota auctions. But that is not the case.

To prove my point, let me ask you reading this post: are you aware of any Gov. run Minnesota Auctions of any type in your area planned in the near future? Chances are very high that wherever you live there are several within driving distance already scheduled for the coming weeks. If you couldn’t name at least a few, I would strongly suggest you visit your county courthouse and inquire as to the posting requirements and where you can obtain this information. 

 

There are also a couple of paid services which try to keep their members up to date on a whole variety of auctions and Sales throughout the country, including all types of Government agency Minnesota auctions. Currently I think this is the best auction and sale listings service available for these types of Sales. (Note: If you are specifically looking for car or truck bargains, I would recommend you look here). It is extremely inexpensive and offers comprehensive government auctions listings and actually a lot more. Some of they types of listings they provide to members include: 

Federal, state, and local government agency auctions

University Auctions 

Government & Police Auctions 

Federal Government Real Estate Auctions 

Local government and police auctions 

Foreclosures and pre-foreclosures listings 

Ability to search online for items

But the bottom line is, the people with this knowledge of where and when this property is sold will be the people who save many many thousands of dollars and stand the chance of finding the deals of a lifetime at Minnesota auctions nearby.


Other stories

    Problem larger than just sub-prime.

    (video at bottom of Home page)


    Kelley Blue Book Used Vehicle Prices

    MN auction inventories

    What are you looking for?

    We can probably point you in the right direction.
    MN used trucks and cars