Part 3.00 Real Estate Sales
6-3.02 Counsel to Prepare Necessary Documents
6-3.03 Pre-Sale Requirements
6-3.04 Time of Sale
6-3.05 Documents to be Presented by Counsel to Designated Officer Following Sale
6-3.06 Deed after Confirmation of Sale
A. This Rule is applicable to sales of real estate conducted by the Sheriff, Judges or other officers and entities pursuant to Judgments or Orders of the Court.
B. Except where otherwise required by law or ordered by the Court, all sales shall be conducted by the Sheriff (hereinafter referred to as “designated officer”).
C. All judicial sales shall be assigned to the designated officer by the Court at the time the Judgment of Foreclosure is entered, and the Plaintiff shall prepare all necessary documents in connection therewith.
A. In all foreclosure sales, the Plaintiff shall use, in substance, the forms set forth below:
1. Notice of Judicial Sale
2. Report of Sale
3. Receipt of Sale
4. Certificate of Sale
5. Order Confirming Sale
B. The Plaintiff shall:
1. Prepare the Notice for the sale in accordance with the form available in the Clerk’s Office and shall comply with all of the notice requirements set forth in 735 ILCS 5/15-1507 as it now exists or as amended in the future. The date of sale shall be confirmed with the designated officer.
2. Prepare reports of sale.
3. Prepare certificate of sale in duplicate.
4. Prepare receipt of sale.
A. All judicial sales shall be assigned to an officer designated by the Court at the time the Judgment of Foreclosure is entered, and the Plaintiff shall prepare all necessary documents in connection therewith.
B. At the time of setting a sale date with the designated officer, the Plaintiff shall deliver to the designated officer a file-stamped, certified or conformed copy of the Judgment or Order which shall include an adjudication of the date of expiration of the period of redemption, and a non-refundable portion of the sale fee.
C. At least two days prior to the sale, Plaintiff shall deliver to the designated officer a copy of the Publication Notice.
Bids at the time of the sale:
A. May be made by the Plaintiff by mail, fax or e-mail by 5:00 p.m. of the preceding day as directed by the designated officer.
B. May be made by persons present.
C. If by third-party bidders, shall be for cash with an immediate payment by the successful bidder of at least ten percent of the purchase price and the balance within two business days, unless otherwise agreed to by those present entitled to the proceeds of the sale.
D. Shall be paid in cash, cashier’s check, credit against the Judgment or the equivalent.
A. Not later than the next business day after the sale, Plaintiff shall present to the designated officer for signature, the following:
1. Report of Sale
2. Receipt of Sale
3. Certificate of Sale
B. The designated officer shall, upon receipt of the aforesaid documents and after signature:
1. Deliver to the Plaintiff the Report of Sale.
2. Issue the Receipt of Sale and the Certificate of Sale with duplicate copy to the successful bidder.
The designated officer shall issue a Deed sufficient to convey title to the holder of the Certificate of Sale upon receipt of the following:
A. Certificate of Sale
B. File-stamped, conformed or certified copy of the Order Confirming Sale.
C. Payment of the purchase price and any other amount required to be paid, including any remaining portion of the sale fee due to the designated officer.
A. All communications should be properly addressed by mail, fax or e-mail to the designated officer to whom the sale is assigned.
B. All required documents, including Publication Notices, shall be substantially in accordance with the forms provided by the Clerk of the Circuit Court.
C. All monies paid to the designated officer conducting judicial sales under the Orders and Judgments of this Court shall be deposited in a special account subject to further Order of the Court.
D. The designated officer is not responsible for recording any documents.
E. Upon the cancellation of a scheduled sale, the designated officer will retain the non-refundable portion of the sale fee.