The Judicial Sales Corporation provides the following mortgage foreclosure services to foreclosing plaintiffs and their counsel:
- Acts as the selling officer in most courts, under 735 ILCS 5/15 - 1506(f) (3), and also as Special Commissioner in Federal District Court for the Northern District of Illinois, Eastern Division.
- Schedules a sale date to commence after expiration of redemption period.
- Prepares and forwards notice of sale to appropriate newspapers.
- Gives notice of sale to all parties involved.
- Obtains Publication Certificate.
- Conducts a mortgage foreclosure sale and enters plaintiff’s bid pursuant to written instructions.
- Sends sale results via facsimile to plaintiff immediately after sale (if applicable).
- Reports sale results to counsel.
- Prepares all sale documents for review by the attorney, who then submits them to court for approval.
- Issues deed of conveyance.
The Judicial Sales Corporation currently handles mortgage foreclosure sales throughout the state of Illinois. All proceeds received from third-party bidders are made payable to The Judicial Sales Corporation and promptly deposited into Judicial Sales Corporation’s escrow account pending court order of approval. Proceeds will be available upon receipt of such court order. Judicial sale fees are due after the sale is court approved.
The Judicial Sales Corporation (TJSC) offers its cost-saving services to foreclosing plaintiffs and their attorneys.
TJSC’s fee is less than half of what most sheriffs charge to conduct mortgage foreclosure sales. We believe the cost savings that foreclosing plaintiffs will realize by using TJSC’s services will contribute to the very worthy goal of preserving, to the maximum extent possible, the foreclosed mortgagor’s equity interest. We are confident that our services will also save time and expenses for law firms that handle foreclosures.
Cook County foreclosure sale fees are $350, all other counties are $400.
Please note that The Judicial Sales Corporation conducts mortgage foreclosure sales daily in every county, not just once a week.