If you’re a homebuyer or investor looking for great property at affordable prices, you’ll find plenty of choices at Hudson & Marshall’s auction of nearly 70 bank-owned foreclosures in Chicago.
If you’re a homebuyer or investor looking for great property at affordable prices, you’ll find plenty of choices at Hudson & Marshall’s auction of nearly 70 bank-owned foreclosures in Chicago. Valued from $10,000 to $340,000, all the homes come with title insurance paid for by the seller and will be auctioned by Hudson & Marshall on August 22nd at the Chicago Marriott Southwest at Burr Ridge at 1:00pm. Registration is free and can be done the day of the auction. Interested buyers should bring a valid government issued ID. Winning bidders will be required to make a $2,500 certified check or cash deposit for each property, which they are the successful bidder. All properties sold at live Auction must close on or before October 2, 2009 and homes are sold “as-is”. Buyers should view all properties in advance of the auction before placing any bids. Homes may be viewed during the open house scheduled August 15th and 16th from 1:00pm- 3:00pm or by contact listing agents to make appointments. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.
To help communities stabilize from the foreclosure crisis and quickly identify new homeowners for their vacant properties, Hudson & Marshall developed the Alliance Network Program as part of their auctions. By partnering with local organizations in communities where Hudson & Marshall conducts auctions, the program provides owner occupant buyers and investors with resources and information to maximize their buying experience and, in turn, help further stabilize the community. The Chicago Urban League will join Hudson & Marshall in hosting a series of pre-auction educational seminars on responsible homeownership and understanding the auction process. Each seminar also will offer attendees the opportunity to participate in mock auctions to practice bidding and become more comfortable with the process. Seminars will be offered on the following dates and locations: August 16th at 6:00pm at the Marriott Southwest at Burr Ridge August 18th at 7:00pm at the Chicago Urban League August 22nd at 11:00am at the Marriott Southwest at Burr Ridge In addition to the seminars, the Chicago Urban League will also refer clients, who have completed their housing counseling program but aren’t financially ready to purchase a home, to investors in search of tenants for properties they purchase at the auction. From foreclosure prevention, to mortgage, home buying, and rental counseling, the Chicago Urban League offers a variety of homeownership services to aid underserved communities and is a HUD certified agency. “Hudson & Marshall’s Alliance Network program is designed to forge innovative partnerships with local groups which speed up our ability to find new homeowners to turn foreclosed properties back into homes. The faster we can help banks reduce their inventory of vacant homes dragging down property values and neighborhoods across the country, the sooner the housing market will be able to rebound”, said Dave Webb, principal, Hudson & Marshall. As part of the Alliance Network Program, mortgage lenders will participate in pre-auction workshops to provide information to attendees and answer questions on financing. ADP Solutions Network Contractor will also join in the pre-auction seminars to offer investors tips on how to rehab property purchased through auction and turn it into income producing rental investments. For buyers who can’t wait until the auction, homes can be purchased in advance by visiting the company’s website at www.hudsonandmarshall.com, clicking on the Bid Now icon and submitting an offer. Sellers usually respond to offers within two days. This is a reserve auction, which means the banks reserve the right to accept, reject or counter any offer. We hope to see you there and make your dream of owning a home a reality!
Visit Hudson & Marshall’s website for more information.
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