REDC Auction Offers Chicago Area Homes at a Fraction of Their Worth

July 19, 2010

A foreclosed condo in the 4700 block of Calumet Avenue in Chicago will be auctioned off on Tuesday.

The home was previously valued at $230,000. It’s opening bid: $500.

This Aurora home, once valued at $242,530, will be auctioned off in Schaumburg on Tuesday with a starting bid of $49,000.

Real Estate Disposition, LLC (REDC) is hosting an auction of more than 70 foreclosed homes in Chicago and its surrounding suburbs on Tuesday, July 20 in Schaumburg.

There are single-family residences, townhomes, triplexes, duplexes, condos and land available for auction.

You can see all the properties, register for the auction, pre-qualify for financing and watch the auction live at www.auction.com.

REDC, which is one of the leading real estate auction companies in the nation, has conducted more than 730 auctions and sold more than $7 billion in real estate assets since 2007, including $700 million this year alone.

What to bring to the auction:

*W-2 forms from the last two years

*$2,500 Cashier’s Check ($5,000 for each subsequent)

*Checkbook for balance of 5 percent Earnest Money Deposit (15 percent for each subsequent)

What: Live Real Estate Auction

When: Tuesday, July 20; registration starts at 5 p.m.; auction starts promptly at 6:30 p.m.

Where: Renaissance Schaumburg Convention Center Hotel, Ballroom East, 1551 N Thoreau Dr, Schaumburg

Visit: www.auction.com for more information.

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