| "Hoffman Estates is conducting a Chicago Real Estate | | | | craftsmanship, amenities, curb appeal and location of |
| Auction of up to 150 properties. The properties include | | | | these properties." |
| both new construction and resale homes and willing be | | | | "This real estate auction adds up to an outstanding |
| sold through auctions". | | | | value and an unbeatable opportunity for house hunters |
| That headline is a sure indication that auction as a tool | | | | looking to capitalize on a strong buyer's market," |
| to sell properties is here to stay. According to Holland | | | | Holland said. "These homes have been specially |
| Home Auctions, nearly 150 properties which are quality | | | | selected by Holland Home Auctions. Why waste time |
| built homes in preferred settings. This is very unlike the | | | | driving around to communities in search of the right |
| usual auctions where the houses are usually | | | | home, or deal with aggressive realtors when you can |
| foreclosed or distress sale houses in undesirable | | | | join us on November 10 and bid on a fantastic |
| locations. | | | | below-market priced property at Holland Home |
| With bids starting at as low as 50% of the actual real | | | | Auctions' first real estate auction." |
| estate price. It is an ideal way to get away from all the | | | | Some of the conditions for the Chicago Real Estate |
| fine print and the clutter of discounts offered by | | | | Auctions for prospective bidders are as follows |
| various builders. According to Hoffman Estates, all the | | | | 1. Pre-register for the event by either phone or online. |
| properties are well crafted, attractive new homes that | | | | Registration is free. |
| includes a full warranty. Properties include single family | | | | 2. A certified cashiers cheque for 5000 dollars made |
| residences, town homes and condominiums within the | | | | payable to themselves, which will be used as a EMD in |
| city as well as the suburbs. | | | | event of winning the auction. |
| Auction attendees and potential bidders can also | | | | 3. The remainder EMD(10%) must be delivered prior to |
| inspect the auction properties by scheduling a private | | | | close of escrow |
| appointment with Hoffman Estates. | | | | 4. Buyer's premium of 5% of high bid will be added to |
| "We encourage all prospective bidders to bring along a | | | | all final accepted bids |
| professional home inspector and thoroughly check out | | | | 5. There is also an option of getting pre-approved |
| any of the homes included in our real estate auction," | | | | through preferred lenders. Upon qualification, you will |
| said Holland, who added that a variety of financing | | | | have the option to put less than ten percent down and |
| programs provided by the auction company's | | | | still bid on a home, plus your five percent buyer's |
| preferred lender are available to those who qualify. | | | | premium will be reduced to four percent (4%) of the |
| "Upon closer inspection, I think you're going to be | | | | high bid price if you use the preferred lender. |
| surprised by the quality, construction integrity, | | | | 6. All residences are sold as "as-is, where-is " basis. |