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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.


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    Consumer Facts

    Consumer Facts

    Below is a small excerpt from the Federal Trade Commission Gov site. I encourage you to check out the site for yourself. For more specific information about repossession requirements, you should contact the  state Attorney General.

    In many states, your creditor can seize your vehicle as soon as you default on your loan or lease. Your contract should state what constitutes a default, but failure to make a payment on time is a typical example.

    However, if your creditor agrees to change your payment date, the terms of your original contract may not apply any longer. If your creditor agrees to such a change, make sure you have it in writing. Oral agreements are difficult to prove.

    Once you are in default, the laws of most states permit the creditor to repossess your car at any time, without notice, and to come onto your property to do so. But when seizing the vehicle, your creditor may not commit a “breach of the peace.” In some states, that means using physical force, threats of force, or even removing your car from a closed garage without your permission.

    Should there be a breach of the peace in seizing your car, your creditor may be required to pay a penalty or to compensate you if any harm is done to you or your property. A breach of peace also may give you a legal defense if your creditor sues you to collect a “deficiency judgment” — that is, the difference between what you owe on the contract (plus repossession and sale expenses) and what your creditor gets from the resale of your vehicle.

    See the entire article here.

     

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    Minnesota Foreclosures

    Minnesota Foreclosures

    There is a growing opportunity in foreclosed homes in MN and repossessions, including Hennepin County property. Obviously the number of foreclosed homes in MN has been a major problem and the trend is expected to continue for some time. Depending on your circumstances, this fact can result in overwhelming hardship or – it can be the opportunity of a lifetime.

    Even though we all experience compassion for those going through difficult times it is also true that economic downturns also create some amazing opportunities for those who put themselves in the right place at the right time – sometimes in a huge way. We can take advantage of the financial opportunities out there (it would be irresponsible not to), and still have compassion and be pro-active in helping members of our community who need it.

    For now it is worth pointing out that the number of foreclosed homes in MN and Hennepin County property in particular are quite substantial and this will most certainly result in some buyers picking up some real steals.

    If you are contemplating a property purchase in the future, in addition to searching the mls online mn listings, I suggest you also at least look here into foreclosed homes in MN. There are la few services and websites which promise to provide access to this information but unfortunately most promise a great deal and deliver much less and are generally quite expensive. That is why a little research beforehand in this regard can save you a lot of aggravation, time and money. By all means have a look at what is out there, but I am quite confident you will end up here.

    Depending on your timing you may be shocked at what you can get and where. It is not just “bad” neighborhoods which are suffering the rash of foreclosures in Minnesota (as well as throughout the country) but every price range of home is being affected. And with the huge inventory of foreclosed homes in MN banks are finding themselves holding, opportunities arise where some of this inventory is being cleared at bargain basement prices.


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    Minnesota repo cars for sale

    Minnesota repo cars for sale

    If you are even considering buying a car in the next year, you owe it to yourself to look at Minnesota repo cars for sale. The site I highlighted in the previous article still offers the most complete over all information obtainable for all types of repossessed property. From House foreclosures to electronic scanners and everything in between. But if you are just looking for a car (or truck), then here is another great website which specializes in cars, trucks and SUV’s.

    At times these go for up to up to 95% off of Book value. Offering immediate access to more than 4000 updated auctions across the country, this membership is a hugely valuable resource for anyone who is planning on buying a car or truck in the future. You may have to observe the listings for awhile until you run across exactly what you are waiting for, but it could save you LOTS. A one time participation fee gains you  access to a wealth of information, much of it not searchable elsewhere on the internet.

    Just as in my favorite all-round sale site which I have already told you about, the vehicles offered for sale on this site come from a variety of sources. The usual sources – drug raids, bank & lender repossessions as well as government surplus vehicles which routinely get rotated out for newer models. Sometime after only a couple of years. Many with full service histories. Some really exceptional vehicles very very cheap if you hit it right.

    They do offer some information on other types of auctions:

    government surplus property
    personal repossessed property
    boats and watercraft property
    but their main virtue (in my humble opinion) is in vehicles. Not only Minnesota repo cars for sale, but actually info from all across the country. So it may very well be worth it to drive to a surrounding state if you see something really special.

    If you are searching for anything other than vehicles, I would still recommend the site showcased in the previous article (Hennepin County property).

    But for cars and trucks this is it!!

    They did recently have a special price on memberships at right around 40 bucks. If not it should be around fifty which, if you plan to buy a car in the next year, will be the best money you ever spent.

    To add the “no-brainer” factor to it, they have a 30 day money back guarantee.

     

    (Although I believe in the services I recommend, it is important that you know – if you purchase any products from the link above, I will make a commission.  Although I would prefer to use it as beer money, I am afraid it will have to go toward maintaining this site and continually updating the information and recommendations therein).

    Any comments or suggestions, please send to me at: info@minnesotarepossessions.com


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