Furniture Foreclosure Appraisal and Auctions

California Civil Code - Section 1980-1991: Chapter 5. Disposition Of Personal Property Remaining On Premises At Termination Of Tenancy

Abandoned Personal Property Auctions conducted under the code for banks and lenders after foreclosure are the fastest growing segment of The Auctionarium's business. In performing hundreds of these auctions we have discovered that asset managers for most major lenders are located in other states and are not aware of the California law requiring personal property valued at $700 or more left behind after the termination of ANY tenancy must be sold at public auction. There is presently no process in place by any major lender or government agency that we are aware of to value abandoned personal property located in each foreclosed home after taking possession. Banks are placed at risk of lawsuit every day by realtors & asset managers who dump, donate or take personal property left behind in foreclosed homes.

The Auctionarium Auction & Appraisal Program Reduce the Threat of Lawsuit from disgruntled former home owners who have been evicted after foreclosure

With our streamlined auction & appraisal California abandoned personal property loss mitigation service

Complete Service from Single Point of Contact Abandoned Personal Property Appraisal and Auction Service Provider

• Summary Personal Property Appraisal (Contents worth more or less than $700)
• First person in after foreclosure completes short work sheet and takes digital site photos
• Worksheet and pictures electronically delivered to Certified Personal Property Appraisal Staff
• Certificate de Minimus (valuation below $700)
• Value more than $700 (Entry into auction pool)
• Abandoned Personal Property Auction marketing program

The Auctionarium Mitigates Loss While Creating a Layer of Indemnification

• Servicing the entire State of California
• Assets are inventoried with standard forms, digital photos & video
• Legal Notices Are Prepared & Placed in Adjudicated Newspapers as required by law
• Assets are sold by Internet only auction in bulk based on photos and inventory
• Internet Bidding Auctions reduce sellers liability of having "The Public" searching through vacant homes where there are often risks of personal injury
• Increases number of active bidders who do not have to spend money on gas to bid at live auctions
• 2 Hour Auctionarium Staff Supervised"Load Out" at scheduled time keeping the number of people at the home down to a minimum
• Certificate of Completion Issued within 72-hours of the auction allowing owner to do whatever they please with the home or unit
• Flat Rate End-to-End Service Auction Entry Fee Plus Commission on Actual Selling Price

The most attractive feature to institutional investors and lending institutions is that a platform has been created to mitigate the risk of loss and lawsuit faster than current "hit or miss" methods used by untrained agents.

 

For immediate service please contact:
Billy Burke, CAI - AARE - GPPA Auctioneer
Tel. 818-583-7384
Mobile. 443-235-9656
E-mail: auctions@theauctionarium.com

Serving the entire State of California

For more information, click here and fill out our inquiry form!