CHICAGO, July 11, 2008 /PRNewswire via COMTEX/ ----Hudson & Marshall Will Auction over 200 Chicago Homes on July 19th and More than 100 Indianapolis Homes on July 20th
CHICAGO, July 11 /PRNewswire-USNewswire/ -- Sprouting up like weeds across the country, foreclosures show no signs of abating but offer buyers the chance to purchase homes at affordable prices. Banks are selling their foreclosed properties at auction at tremendous discounts to avoid losing more money on these loans.
Hudson & Marshall, America's leading foreclosure auction firm, will auction over 200 bank-owned foreclosures in Chicago on July 19th at 11:00pm at the Hyatt Regency O'Hare. The company will also auction more than 100 homes in Indianapolis on July 20th at 1:00pm at the Sheraton Indianapolis Hotel and Suites.
"Our auctions offer just about every type of home, at every price for every type of buyer," said Dave Webb, Principal, Hudson & Marshall. "We have homes for investors, first time home buyers and growing families, and we make the process easy. All the homes come with guaranteed title insurance and buyers are guided through each step of the auction from bidding to closing," added Webb.
Among the states, Illinois and Indiana continue to get hammered by foreclosures. According to Realtytrac(R: 67.58, -7.51, -10.00%), in June, Illinois' foreclosure rate ranked 13th among the states with one in every 637 households receiving a foreclosure filing. Things are more grim in Indiana, which earned the 9th spot among the states with one in every 568 households receiving a foreclosure filing in June.
The Chicago homes are valued from $14,000 to $500,000 and the Indianapolis homes range in value from as little as $2,500 to $300,000. Each property is sold "as-is" and buyers should inspect the homes before placing any bids. An open house is scheduled for July 12th and 13th from 1:00pm-3:00pm. Properties may also be viewed by contacting the listing agent and making an appointment. A complete list of properties and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.
Each home comes with guaranteed title insurance paid for by the sellers. Winning bidders will be required to make a $2500 deposit in the form of cash or certified funds for each property on which they are the successful bidder. Prior to the auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers usually respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.
Real estate auctions offer buyers a fast, easy way to purchase property in a competitive and open bidding environment, which allows a property's true market value to emerge. Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.
About Hudson & Marshall of Texas Inc.
H&M is America's Premier Auction Authority. Our 40-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M's streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Recently, H&M has sold and closed over 70,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.
CONTACT:Brenda Kasprzyk
708-945-2178 |