Chicago Real Estate Auction by Hoffman Estates

“Hoffman Estates is conducting a Chicago Real Estate Auction of up to 150 properties. The properties include both new construction and resale homes and willing be sold through auctions”.

That headline is a sure indication that auction as a tool to sell properties is here to stay. According to Holland Home Auctions, nearly 150 properties which are quality built homes in preferred settings. This is very unlike the usual auctions where the houses are usually foreclosed or distress sale houses in undesirable locations.

With bids starting at as low as 50% of the actual real estate price. It is an ideal way to get away from all the fine print and the clutter of discounts offered by various builders. According to Hoffman Estates, all the properties are well crafted, attractive new homes that includes a full warranty. Properties include single family residences, town homes and condominiums within the city as well as the suburbs.

Auction attendees and potential bidders can also inspect the auction properties by scheduling a private appointment with Hoffman Estates.

“We encourage all prospective bidders to bring along a professional home inspector and thoroughly check out any of the homes included in our real estate auction,” said Holland, who added that a variety of financing programs provided by the auction company’s preferred lender are available to those who qualify. “Upon closer inspection, I think you’re going to be surprised by the quality, construction integrity, craftsmanship, amenities, curb appeal and location of these properties.”

“This real estate auction adds up to an outstanding value and an unbeatable opportunity for house hunters looking to capitalize on a strong buyer’s market,” Holland said. “These homes have been specially selected by Holland Home Auctions. Why waste time driving around to communities in search of the right home, or deal with aggressive realtors when you can join us on November 10 and bid on a fantastic below-market priced property at Holland Home Auctions’ first real estate auction.”
Some of the conditions for the Chicago Real Estate Auctions for prospective bidders are as follows

1.Pre-register for the event by either phone or online. Registration is free.

2.A certified cashiers cheque for 5000 dollars made payable to themselves, which will be used as a EMD in event of winning the auction.

3.The remainder EMD(10%) must be delivered prior to close of escrow

4.Buyer’s premium of 5% of high bid will be added to all final accepted bids

5.There is also an option of getting pre-approved through preferred lenders. Upon qualification, you will have the option to put less than ten percent down and still bid on a home, plus your five percent buyer’s premium will be reduced to four percent (4%) of the high bid price if you use the preferred lender.

6.All residences are sold as “as-is, where-is “ basis.
The Nov. 10 Chicago Real estate Auction will be conducted at The Stonegate Conference and Banquet facility, located at 2401 W. Higgins Rd. (near the Barrington Road I-90 interchange) in Hoffman Estates. For more details on the auction, including terms and conditions, visit our website or call (877) 499-5478.