Updated over 2 years ago on . Most recent reply
Buying a forclosed auction property
Bidding on a bank forclosed property and was wanting any information on steps to take before closing on property. The property is occupied, so I know I'm going to have to go through the eviction process (in Illinois). Looking for any advice or information I can get from people that went through a occupied - auction - forclosure. Thanks.
Most Popular Reply
@John Kilhafner
It's not clear from your post if you've purchased an auction property before. You may know this already but if not, do your due diligence on the title as others have said here; paying particular attention to the lien positions. This is critical.
As for the property being occupied and what that may mean... after the auction sale in IL, the sale then needs to be approved by the court. It's during this court approval that the judge specifies a date for when the pervious homeowner has to vacate the property by