Q. When is your next Auction?
A. Our Auctions are ongoing. We are always accepting bids from our customers and bringing them straight to our Sellers. We have conducted Auctions on site, at Hotels, and through the internet. We are members of the National Association of Auctioneers and always striving to present new progressive auction methods to our customers.
Q. Can I purchase a property before the Auction?
A. Yes! Most of our properties are ready for sale. We have a Pre-Auction Price listed, or if you prefer, attend the Auction and place YOUR bid.
Q. What is Seller Financing?
A. Seller Financing means the Seller of the property will finance you, if qualifed, for a minimum of 90% of the purchase price. After closing you will make monthly payments to the Seller until the balance is paid in full. The monthly payment even includes the Real Estate Taxes. The payment does not include insurance on the property which you are required to keep. We sell a very limited amount of homes with Seller Financing, if you are interested please let us know.
Q. Can I pay cash for the property?
A. Yes! At closing you can pay in full, or use Seller Financing if qualified.
Q. Are these Bank Owned properties or Short Sales? Do they have existing mortgages or back taxes?
A. There are no existing Mortgages on any of the properties. The properties are aquired by various methods and are liquidated through The Chicagoland Real Estate Auction company. We do not offer Bank Owned properties or short sales!
Q. How can I view a property for sale?
A. You can attend the open house prior to the Auction, or simply call 312-334-1300 and ask for a showing request. If the building is vacant we may be able to give you showing instructions over the phone. Not all of our properties are available for interior inspection, and therefore you will need to place your bid based on your own observations of the property and always assume the worst.
Q. Can I refinance a property purchased through Seller Financing?
A. Yes, there is never a pre-penalty. The account can be paid in full at any time.
Q. How will I know if I qualify for Seller Financing;
A. You will need to fill out the required credit application and speak with a company representative. In some cases you will be required to verify employment, income, and ability to make the monthly payments in a timely fashion.