(312)236-SALE (7253)


(312)236-3383


Daily Procedures

Frequently Asked Questions

On the day of sale, investors attending the sale must register a certified check payable to The Judicial Sales Corporation (NO THIRD PARTY CHECKS OR OTHER TYPES OF CURRENCY, LINES OF CREDIT, ETC. ACCEPTED). Once registered, the registered bidder will receive a bidding paddle. Most properties are sold for 25% down with the balance due by 2 PM the next business day, however some are sold at 10% down and others at 100% down at the close of sale (see the notice of sale or check the court file for this information). The bidding percentages may also be found on our website under the sale schedule. If the bidder exceeds the amount of their registered funds they will be disqualified from bidding any higher.
The balance is due by 2 pm next business day in certified funds delivered to our office or by wire transfer.
Winning bidders receive a receipt of sale showing the balance due next business day by 2 PM. Once the balance is paid in full the winning bidder will receive a certificate of sale. THIS IS NOT A DEED TO THE PROPERTY. The winning bidder will receive a deed to the property once the sale is approved by the Court.
Winning bidders that fail to come up with the remaining balance within the 24-hour period may result in a forfeiture of their 25% down or other actions deemed by the court.
The attorney representing the plaintiff will file a motion to approve the sale. This could take weeks and sometimes months to get on the judge’s motion call. The Judicial Sales Corporation is not responsible for getting the sale approved. Winning bidders will most likely get a notice from the plaintiff’s attorney with information regarding the court hearing.
If the court decides not to approve the sale, the bidder will receive full return of funds deposited per the court order.
Winning bidders will get possession usually 30 days from the date of the order approving sale hearing. Possession is always at the courts discretion.
It is the winning bidder’s responsibility to handle any eviction, if applicable, and bear the cost of same.
Once the sale has been approved, the winning bidder, or its assignee must surrender the original certificate of sale to The Judicial Sales Corporation along with a certified copy of the order approving sale in exchange for the deed. The legal holder of the deed is responsible for recording the deed.
The Judicial Sales Corporation does not guarantee title. It is recommended that investors do their due diligence and contact their own attorney to make a wise decision when buying at a foreclosure sale.

Contact

1 South Wacker Dr.
24th floor
Chicago, IL 60606

Tel: (312)236-SALE (7253)

Fax: (312)236-3383

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Cook County Sales

The Cook County morning sales begin at 10:30 am, doors open at 10:00 am for registration.

Office Hours

Monday - Friday
8:30 am - 4:30 pm

Deed Pickup Hours

Monday - Friday
11:30 am - 3:00 pm

Tel: (312)752-1242

Payoff Sale Balance Hours

Monday - Friday
9:00 am - 2:00 pm

Tel: (312)752-1215

Show Wire Transfer Instructions