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Chicagoland Real Estate Auction by Holland Home Auctions

(PRWEB) October 24, 2007 -- Shoppers in the market for a new home at the lowest possible price can cut through the clutter of builder discounts and subdivision sales promotions by attending Holland Home Auctions real estate auction, set for Saturday, Nov. 10 in Hoffman Estates. Up to 150 different properties from throughout Chicagoland--both new construction and resale homes--will be available for public bidding.

"Unlike most public real estate auctions, where the vast majority of homes for sale are foreclosed residences or distressed properties in undesirable locations, this real estate auction will feature quality-built homes in preferred settings," said Steve Holland, president of Naperville-based Holland Home Auctions (www.hollandhomeauctions.com). "More than half of the homes we're offering are brand new construction that we purchased directly from reputable builders for the specific purpose of this auction. These are well-crafted, attractive new homes that include a full warranty. Bidders can select from a wide variety of single-family residences, townhomes and condominiums with addresses in the city and suburbs."

The real estate auction scheduled for Nov. 10 will include bidder registration and a preview from 9 a.m. to 11 a.m., followed by the auction from 11 a.m. to 3 p.m. A full list of Holland Home Auctions properties--including detailed information such as address, square footage and amenities, as well as photos and a virtual tour can be found on our website. You also can register for the event and view auction terms and conditions, receive answers to frequently asked questions and view real estate purchase and sales agreement documents. Steve Holland (www.499list.com) noted that new properties are being added daily to the website.

Additionally, auction attendees and potential bidders will be allowed to inspect any of the auction properties during the two open house events scheduled for Saturday, Oct. 27 and Saturday, Nov. 3, from 12pm to 3 pm, CST. Homes also may be viewed prior to the event by scheduling a private appointment through Holland Home Auctions.

"We encourage all prospective bidders to bring along a professional home inspector and thoroughly check out any of the homes included in our real estate auction," said Holland, who added that a variety of financing programs provided by the auction company's preferred lender are available to those who qualify. "Upon closer inspection, I think you're going to be surprised by the quality, construction integrity, craftsmanship, amenities, curb appeal and location of these properties."

"This real estate auction adds up to an outstanding value and an unbeatable opportunity for house hunters looking to capitalize on a strong buyer's market," Holland said. "These homes have been specially selected by Holland Home Auctions. Why waste time driving around to communities in search of the right home, or deal with aggressive realtors when you can join us on November 10 and bid on a fantastic below-market priced property at Holland Home Auctions' first real estate auction."

Prospective bidders are required to pre-register for the event by phone or online no later than Nov. 8. Registration is free. Bidders are required to bring to the auction a certified or cashier's check in the amount of $5,000 dollars, made payable to themselves, which will be utilized as the earnest money deposit in the event they are the winning bidder. The remainder of the ten percent (10%) earnest money deposit must be delivered prior to the close of escrow. A buyer's premium of five percent (5%) of the high bid price will be added to all final accepted bids. If you do not anticipate having a full ten percent (10%) down payment, another option is to get pre-approved through Holland Home Auctions' preferred lender. Upon qualification, you will have the option to put less than ten percent down and still bid on a home, plus your five percent buyer's premium will be reduced to four percent (4%) of the high bid price if you use the preferred lender. Buyers also are responsible for paying any associated closing costs. Steve Holland noted that each residence is sold on an "as-is, where-is" basis.

The Nov. 10 auction will be conducted at The Stonegate Conference and Banquet facility, located at 2401 W. Higgins Rd. (near the Barrington Road I-90 interchange) in Hoffman Estates. For more details on the auction, including terms and conditions, visit our website or call (877) 499-5478.

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