Real Estate Auction November 8, 2009 at Oak Brook Marriott

There will be a real estate auction on November 8, 2009 at the Oak Brook Marriot sponsored by OwnACondo.com.  It will have properties that will be sold absolute and minimum bid.  There will be approx thirty to fifty properties placed up for sale on that day including condos, single family home, two to four units and vacant land.  The areas of Chicago include Glen Ellyn, Wheeling, Crystal Lake, Des Plaines, Oak Brook Terrace, Palos Park, Elmhurst and all parts of Chicago.

If you' like more information on this real estate auction being held November 8, 2009 please go directly to the OwnACondo.com website and click on real estate auctions. If you're a buyer and want to find out more on properties in the auction, the list of properties is on the website.  Feel free to browse the listings and click on the appropriate listing.  If you'd like additional information on a property, a bid package will be provided for twenty dollars.  All bid packages have the information that will pertain to just about any question you have on a particular property and is suggested to purchase of you're serious about being a bidder in the the real estate auction.  All buyers are asked to bring a personal cashier's check of two thousand, five hundred dollars made out in their name to the auction.  Upon arriving, they will be asked to check in with their personal cashier's check, a copy of their driver's license and a personal check to write out the difference of what five percent of the purchase price will be.

For an example , on November 8, 2009 you have the winning bid of $500,000 on a property in the real estate auction in Oak Brook at the Marriot.  You will need to sign over you cashier's check in the amount of $2,500.  That's the first thing.  Next you will sign a contract for $500,000 plus the five percent buyers premium of $25,000.  So the contract will read $525,000.  You will need five percent down the day of the event. So in this example you would need to write a check of $26,250, less the $2,500 cashier's check from your personal account.  You would sign the contract and you basically are off and running to owning the property.

Real estate auctions have grown in popularity and are reaching new heights with more than just the cult followers of the past.  We're finding many renters and first time buyers getting in the game as well.  Happy bidding!