In Fannie Mae's case, it owns thousands of properties because people defaulted on their Fannie Mae-insured mortgages. As you browse the government auction sites above, you'll notice some link you to additional sites run by private contractors.
Sample Lot: a 969-square-foot condo in the Glover Park neighborhood of Washington. FDIC Auctions: The FDIC, which insures banks, gets its holdings when they fail and sells some of them via auction to the public. Marshal's service auctions off some true bling as part of its mission to "combat major criminal activity by disrupting and dismantling illegal enterprises" and "depriving criminals of the proceeds of illegal activity." Once again, there is real estate, but also businesses, cash cars, collectibles - and more. These contractors have legitimate relationships with the government, but bidder beware: other private companies will try to make their auctions seem like government auctions as a marketing ploy.
When a federal agency no longer needs something - say, a pickup truck - it reports the truck to GSA, which first offers it to other federal agencies and then to state and local governments or nonprofits.
If nobody claims the truck, then the GSA auctions it off to the public, and you get your chance at it.
There are many categories of goods, including concrete items like antiques and coins but also less tangible property like stocks and patents.
Sample Lots: When I first looked, Treasury was auctioning off $1,000 bills for far more than their face value - they went fast.
HUD's site lists homes for sale in most every state, some fixer-uppers, others in excellent condition. Department of Agriculture also auctions off houses and apartment buildings, but why buy one of those when you can buy a farm or ranch from the USDA?
Sample Lots: Six different homes in Newport News Virginia, ranging from ,500 to 7,000; 24 homes in Baltimore, one for only ,000! The agency obtains these properties when people default on USDA-insured loans, among other ways. Also available: .33333334 percent interest in an Ohio real estate partnership called Chesterland Productions.Fannie Mae Auctions: As you can imagine, Fannie Mae auctions off real estate, but actually, so do the GSA and Treasury auctions listed above.Yesterday the singer, who has never been arrested or charged, spoke out after being told he will not be prosecuted over the claims - almost two years on from South Yorkshire Police raiding his £2.5million home in Berkshire.The Sun reports the man was one of four case files sent to the CPS by South Yorkshire Police with allegations dating between 19, in addition to a further five men who had made statements against the singer.Several different federal agencies hold government auctions.