Auction Paperwork Approvals

All units scheduled for auction must be accompanied by a complete auction packet from the site manager. These packets must be reviewed by the Regional Director and obtain a signature for approval before they are permitted to be sold. The items below are what you'll be looking at when reviewing paperwork.

1. Confirm that the packet is uploaded in the designated area in MS Teams. (Again, there should be a single PDF file for each unit.)

2. Ensure there is a valid lease in the packet for this tenant. A Valid Lease can mean one of three things:

   • Signed Lease completed at the time of rental (preferred)

   • Copy of Missing Lease Letter sent to tenant at least 30 days prior to auction, with proof of sending (either RPost or Simple Certified Mail)

   • Copy of Management Change Letter (Welcome Letter) sent out at the time of acquisition, with proof of sending (either RPost or Simple Certified Mail)

3. Confirm the contact information (name, email, mailing address) that is on the tenant account in StorAlly matches what's displayed on the Valid Lease.

   • Any changes to tenant information must be accompanied by a signed Change of Address form, or some other written request from the tenant.

4. Confirm that no partial payments have been taken since the foreclosure process began.

5. Confirm that neither the Rental Agreement or the tenant account in StorAlly indicates the tenant is in the Military. 

6. Confirm that the unit posting on Storage Treasures displays the correct unit size, and is set to close at the proper date/time.

7. Confirm that the unit pictures in the paperwork packet match what is posted on Storage Treasures and is the correct unit.

8. Review tenant notes to ensure there isn't anything that indicates an issue with this tenant or the foreclosure in general. Ensure there were a minimum of 3 phone calls made in attempt to reach the tenant.

9. Review the Lien Search to ensure there were either no search results found, or if there were search results that they don't appear to be related to the contents inside the unit. 

   • If in doubt - reach out to your DVP for another set of eyes.

   • If we did identify a lienholder, confirm that the site made an effort to contact the lienholder. Some states have a Perfected Lienholder Notice that must be sent as well. 

10. Review the Lien Letter(s) in the packet. 

    • Ensure they were sent to the correct tenant, for the correct unit.

    • Ensure the auction date/times are listed correctly in the letter & that they line up with the live sale on Storage Treasures.

    • Ensure you have proof of sending for each lien letter (either RPost receipt or Simple Certified Mail proof)

11. Confirm the Foreclosure Inventory List (aka Lock Cut Sheet) is filled out in its entirety, with both the printed names and signatures of the two Devon employees involved in the lock cut, as well as the tamper proof seal number.

12. Confirm all required pictures are present.

    • Paperwork pictures should include:

      1. A picture of the unit, displaying the unit number, with the tenant lock still in place.

      2. A picture of the actual lock cut in progress.

      3. A picture of the unit as a whole, displaying the unit number, to show the unit contents.

    • Storage Treasures pictures should include:

      1. As many pictures as necessary to fully showcase the unit contents - with no unit numbers displayed.

      2. Close ups on big ticket items.

13. Review the auction ad and confirm its accuracy. Should include all legal verbiage, the auction start/end date and time, and all tenant names should be spelled correctly. Confirm that the auction date/time listed match what is in the Lien Letter(s) and corresponds with the live sale on Storage Treasures. 

14. Ensure the auction ad ran (or was posted) appropriately depending on your state's requirements, and that it ran with the appropriate amount of time remaining prior to the auction sale.

Once you have confirmed all items above and feel confident that this is a solid, legal foreclosure sale, sign the packet at the bottom of the first page (the Foreclosure Checklist).