Auction FAQ
- How does the auction process work?
- How do I register?
- Is there a fee to register?
- Do I need a bidder's card?
- If I signed in at an earlier location, do I have to sign in again at a different location?
- Do I need to bring anything?
- Can I pay with a check or credit card?
- Is there sales tax?
- How do I know if I am tax exempt?
- Will I get to inspect the unit before I bid?
- How much do the units usually go for?
- What types of items do you usually find in the units?
- What if I bid on a unit and decide I no longer want to buy it?
- How long do I have to clean out the unit?
- What if I don't clean out my unit?
- What is a cleaning deposit?
- When will I get my deposit back?
- What if I find personal items in the unit?
- What is the difference between a "seized" unit and an "accumulation" unit?
- What is the difference between a storage lien auction and a warehouse lien auction?
- There were 5 units listed on the website but you only sold 3, what about the other 2?
- What does it mean when a unit or location "clears"?
- If you sold my unit, is there a way I can contact the buyer to buy back some of my stuff?
- Who can I contact about a complaint with the way a storage company handles their auctions or a another auctioneer?
How does the auction process work?
Each person who wishes to bid has to register prior to bidding. You will have an opportunity to look at the unit without touching anything or walking inside it. Once everyone has had a fair and equal chance to look, the auctioneer will start a live bid for the entire contents. Once the item is sold, the auctioneer moves on to the next unit. Often, the auctioneer will sell units at several different facilities in one day. In that case you only have to register at the first location that you intend to bid. You are, however, expected to check out with the auctioneer at the end of the auction at EACH location that you buy a unit. Most seized property auctions require cash, so be sure that when you bid, you have the cash on you because the auctioneer cannot wait for you to run to the bank before they move on to the next location.
How do I register?
You can register by providing your name, address, phone number, driver's license, and sales tax exempt status on the registration sheet. It is suggested that you arrive at least 15 minutes early so you have plenty of time to register.
Is there a fee to register?
No, there is no fee to register.
Do I need a bidder's card?
No, when you sign in you will notice a number next to your name. That will be your bidder's number and you will use that if you bid on a unit so it would be a good idea to remember it to prevent the clerk from having to look it up for you.
If I signed in at an earlier location, do I have to sign in again at a different location?
No. Once you have signed the auctioneer's sign in you are good for the whole day. However, some storage locations require you to sign their own sign in sheet to come on to the property.
Do I need to bring anything?
Almost all storage auctions require that you pay in cash at that location before moving on to the next. So you need to make sure you have enough cash on you to bid. It is also highly recommended that you bring your own lock to put on any units you buy immediately after the auctioneer has declared the unit sold. Additionally, many people bring flash lights to see into the units as some are very dark and it is hard to see what is in the unit.
Can I pay with check or credit card?
In general, no. Most auctions are CASH ONLY. However, at some auctions, like estate auctions, most major credit cards are accepted.
Is there sales tax?
Yes unless you are tax exempt. If you are tax exempt you will be required to fill out a tax exempt form available here or when you register, and this form is kept on file with us and is good until December 31 of the current year.
How do I know if I am tax exempt?
If you are tax exempt, then you are buying for resale purposes and have a resale tax number on file with the comptroller's office.
Will I get to inspect the unit before I bid?
Yes. Everyone will have an equal chance to look before the auctioneer opens up the bidding.
How much do the units usually go for?
The units can go anywhere from $1 to $5,000 depending on the size and what's in it.
What types of items do you usually find in the units?
Pretty much anything and everything. In general, the units contain a large amount of household merchandise but there are no limits to the types of items that have been found inside the units.
What if I bid on a unit and decide I no longer want to buy it?
A bid is an oral contract between you and the auctioneer. Once the auctioneer says sold, you own it. All sales are final and the auctioneer makes no warranties or guarantees. Be sure to inspect the units carefully before you buy.
How long do I have to clean out the unit?
In general, you have between 24 and 48 hours to clean out the unit however every storage company is different and if you buy several units the managers are generally willing to work with you as long as you communicate with them.
What if I don't clean out my unit?
If you fail to clean out the unit, the property owner will consider the items abandoned and dispose of them. In addition, failure to clean out a unit means that you will not be able to buy another unit with that company again at any of their locations. Also, you will forfeit any cleaning deposits you may have paid.
What is a cleaning deposit?
A cleaning deposit is an amount, usually $50, that you have to pay in addition to the cost of the unit. Once you have cleaned out your unit in a timely manner and the property manager approves, they will give you your deposit back.
When will I get my deposit back?
The onsite manager will return your deposit after they have confirmed that you have cleared out all the contents of your unit.
What if I find personal items inside the unit?
We request that, as a courtesy, you return any personal items to the property manager so they can return them to their owner. Such items include family photos, tax and legal documents, and items with primarily sentimental value.
What is the difference between a "seized" unit and an "accumulation" unit?
A seized unit means the property has been seized under a storage or warehouse lien and is being sold for unpaid storage expenses. An accumulation unit has not been seized and therefore has been put together by the property manager from abandoned units and property left on site.
What is the difference between a storage lien auction and a warehouse lien auction?
From a buyer's standpoint, they are essentially the same. Each has to follow a separate, although similar, legal process in order to gain the right to sell the property.
There were 5 units listed on your website but you only sold 3, what about the other 2?
The owners of the seized property have up until the time that the hammer falls (or the auctioneer says 'sold') to pay their rent and clear their property from the lien. This means that some units clear before we sell them at auction.
What does it mean when a unit or location "clears"?
It means that the owner of the property paid what they owed and reclaimed their items. For a location, this means that all of the units at the location cleared.
If you sold my unit, is there a way I can contact the buyer to buy back some of my stuff?
We do not give out the information of who bought what unit but if there is something you want out of the unit we suggest you mention it to the manager before the auction. If desired, we can give your contact information to the buyer and allow them to contact you if they are interested in selling any of your items back. Note that they are not required to do so.
Who can I contact about a complaint with the way a storage company handles their auctions or another auctioneer?
All auctioneers in the state of Texas are licensed and regulated by the Texas Department of Licensing and Regulation. We encourage you to contact the auctioneer if you have a complaint. If you have an unresolved complaint with ANY auctioneer, contact the department and report it.
Texas Department of Licensing and Regulation
P.O. Box 12157, Austin, TX 78711
(800) 803-9202
www.license.state.tx.us
