foreclosure
homes in
Illinois

In Illinois, foreclosure sales can take place either in person or online. There is no difference in the types of properties offered at these auctions. All are at the same stage in the foreclosure process. In both sales, the property is either sold to a third-party bidder or reverts to the Bank or Lender (the Plaintiff).

For the most accurate and up-to-date details, refer to the Foreclosure Sale Notice, or visit our website at www.Auction.com or call our office directly at (872) 321-1274

In Illinois, mortgage foreclosure is a judicial process, meaning it goes through the court system. After a borrower defaults and the lender files a lawsuit, the court may issue a Judgment of Foreclosure and Sale. A 90-day redemption period follows, during which the borrower can pay off the remaining debt to stop the foreclosure process. If the debt remains unpaid, a foreclosure sale is scheduled.

The sale must be publicly advertised and is conducted in person or online either by the county sheriff or a Private Selling Officer (PSO). At the auction, the highest bidder wins the property. The purchaser may also be responsible for any additional liens attached to the property. Please see information on how to conduct due diligence here. Once the sale occurs, it must be confirmed by the court, after which a foreclosure deed is created.

If no bids exceed the opening bid, the property reverts to the plaintiff (typically the bank or lender).

The time and location of foreclosure sales can vary by county and depend on who is conducting the sale. For sales conducted by Auction.com (a PSO), please note that some auctions may be held online or in person. Click here for the most up to date sale calendar.

For the most accurate and up-to-date details, refer to the Foreclosure Sale Notice, or visit our website at www.Auction.com or call our office directly at (872) 321-1274

You can also find property-specific information by visiting the property’s specific foreclosure Illinois property details page, which can be found here.

To register to bid at a in-person auction, you must meet the following three requirements with Auction.com:

1. Valid U.S. Government-Issued ID
2. Cashier’s Check or Certified Check for 20% of your highest intended bid, made out to Auction.com, LLC
3. An active Auction.com account registered in your name

Please note: No other forms of payment will be accepted. This includes, but is not limited to, cash, money orders, lines of credit, or any payment method other than those listed above.

The sale of a property may be postponed or canceled for various reasons prior to the start of bidding. There is no guarantee that a specific property will be brought to sale.

For the most accurate and up-to-date information, please refer to the foreclosure notice or visit our website at www.Auction.com or call our office directly at (872) 321-1274

No, a buyer’s premium does not apply for these sale events.

It depends. Properties will be sold “as is, where is,” with all faults and limitations. All prospective bidders are encouraged to conduct their own due diligence and investigate all matters relating to the Properties that they are interested in purchasing. It is recommended that you seek independent advice to perform your due diligence and to fully understand the foreclosure process and foreclosure sales in general prior to the sale. It is possible higher priority liens may remain on the property even after foreclosure.

Doing your homework pays off! Some properties may have information provided by Auction.com on the property detail pages. It is your responsibility to do a title search and seek any needed advice from counsel prior to the sale.

No, as these properties can be occupied, prospective bidders may not trespass on the property, disturb the occupants, or contact the borrowers to obtain information about the property. However, detailed property information for some properties may be available for informational purposes only on the property detail page at Auction.com

In-person auction: Bidder must provide a Cashier’s Check or Certified Check for 20% of your highest intended bid, made out to Auction.com, LLC. The remaining amount must be received in 24 hours from sale time.

Online Auction:After the closing of sale, a representative from Auction.com will contact you to finalize all paperwork and provide instructions for transferring funds, which must be received within 24 hours of the sale.

Yes, in Illinois, the deed will be prepared and mailed within 10 days of receiving the court’s order approving the sale. Based on the judge’s docket and the county, the court order approving sale typically takes 30 to 90 days from the sale date.

Yes, in Illinois, a borrower may redeem the property during the statutory redemption period, which typically ends before the foreclosure sale. Please consult your real estate counsel or licensed professional for specific guidance.