The auction review service is an OpenTech Alliance product used in conjunction with StorageTreasures. This service is an adaptation from the live auction setting. In the past a licensed auctioneer would arrive at a facility to sell units which had gone through the lien process. Before proceeding with sale the auctioneer would review the files. If the auctioneer saw anything out of the ordinary the file would not be sold. The auctioneer and his insurance would cover the possibility of a wrongful sale claim. This was ancillary service provided by the live auctioneer.
As auctions started to move away from the live auction setting this service was still in demand. A system was created where a single PDF was provided for each unit up for sale in the virtual environment. The auctioneer or review specialist will look over the PDF and approve or reject the unit based on the file provided. OpenTech Alliance offers this service to storage facilities posting units on StorageTreasures. OpenTech Alliance will cover the liability in the case of a wrongful sale.
Each unit is reviewed for accuracy of the lien process. Each file is dissected from start to finish to ensure all of the state lien laws were followed. If items needed for review are missing the auction review team will contact the facility to procure the needed documents. If the file has no issues and has all documents needed it will be approved for sale. The unit will be allowed to close normally on StorageTreasures
If a unit is submitted and it does not follow the state lien law the unit will be rejected. The unit will be immediately taken off of the site and not allowed to close normally. If any paperwork could be provided to have the unit close normally the review team will reach out to the facility. If the facility cannot provide proof to the review specialists the unit will then be rejected.
When setting up the service for new clients we have a detailed live training webinar. If needed, can also set up state specific webinars to help with training.