Attorneys' Title Guaranty Fund, Inc. (ATG) has announced the launch of Auctions by ATG, its new subsidiary focused on Illinois real estate auctions. The innovative Chicago-based real estate firm will host a multi-property auction on June 22, 2012. Buyers will have the opportunity to bid live or online on a mixture of single-family and multi-unit properties with low opening bids and published reserve prices.
"Auctions by ATG will provide the most transparent and dynamic auction process available today," said Diana M. Peterson, executive vice president of Illinois real estate firm Auctions by ATG. "By utilizing the resources and relationships that ATG provides, we are confident that Auctions by ATG will be a market leader and provide excellent opportunities for investors and other property purchasers nationwide."
According to Peterson, the June 22 Illinois real estate auction will introduce Auctions by ATG's new online bidding website, which is unparalleled in Illinois. Not only does this website provide bidders extensive research and analytical tools to evaluate properties prior to auction, but it also offers total transparency on auction day. Registered online bidders can view live-streaming video of the auction and a live bid cast in real-time, allowing them to observe the auction and electronically submit their bids from anywhere.
"No other online auction process in Illinois currently has this capability," said Peterson. "Our online bidding process delivers what so many investors today want - a totally transparent online bidding experience with the ability to follow and participate in the auction in real-time, online."
Another unique feature of the Auctions by ATG platform is the ability to use an online bidding service. "Online bidders who don't have time to attend or follow our Illinois real estate auctions may confidentially submit their maximum bid to the online bidding service and authorize a bidding service staff member attending the auction to submit bids on their behalf," said Peterson.
Peterson noted that Auctions by ATG will not be ATG's first foray into auction platform property sales. Since 1991, The Judicial Sales Corporation, another ATG subsidiary, has been the leading provider of private foreclosure sales services in Illinois. According to Peterson, this relevant experience positions the firm for success. "We have significant existing relationships with a large pool of strong cash buyers who are ready to close quickly. Unlike other auction firms, we have direct access to a substantial network of local investors who already attend our foreclosure sales twice a day," said Peterson. "These investors are eager to seize the opportunities Auctions by ATG now offers. In addition, our variety of auction platforms will allow them to partake in many different types of sales and invest in a more diverse range of properties."
Auctions by ATG's online bidding service provider also has relationships with major private equity funds that are purchasing properties in Illinois. With significant resources to invest, these funds, and the firm's local investors, will be attracted by the investor friendly pricing and process, added Peterson.
The June 22 Illinois real estate auction will be a tax deed auction and feature 12 residential properties in the Chicago area. These properties were the subject of a property tax sale, which means the purchaser of the delinquent property taxes has the right to take the deed as the delinquent property tax payer no longer has a right to redeem. The winning bidder at auction will be assigned the right to take deed to the property, subject to court issuance of the tax deed. Insurable title and a circuit court tax deed will be provided to the winning bidder at closing.
Interested parties in the June 22 auction should visit http://www.auctionsbyatg.com to register to bid and join the mailing list to receive future Illinois real estate auction notices.
In addition to its tax deed auction platform, Auctions by ATG offers both residential and commercial Illinois real estate auction platforms for REOs, short sales, developer units and property notes.
"The transparent, real-time auction process we now offer through Auctions by ATG, combined with our existing law firm, investor and lender relationships, make this a very unique and exciting venture," said Peter Birnbaum, CEO of ATG.
"With Auctions by ATG, we now have the ability to bring an unrivaled auction experience to both local and national investors, giving us the leverage to handle properties of all types and class."
About Auctions by ATG
Auctions by ATG, a wholly-owned subsidiary of Chicago-based Attorneys' Title Guaranty Fund, Inc., is a provider of live and on-line Illinois real estate auctions. The firm offers multiple residential and commercial platforms including: REO, short sales, tax deed, developer units, and notes. To its lender, servicer, and other seller clients, Auctions by ATG provides a more cost effective, quick and professional auction platform than its competitors. To investors and home buyers, the Chicago-based real estate firm offers: property at attractive prices; a professional and transparent bidding process; and access to substantial property and title research.
For more information about Auctions by ATG, visit the firm's website, http://auctionsbyatg.com/.
To learn more about Attorneys' Title Guaranty Fund, Inc., please visit http://www.atgf.com/.
Editors: For more information or to schedule an interview, contact Mark Thomton at (312) 267-4523 or mthomton(at)taylorjohnson(dot)com.
Photo: 17164 Cregier Avenue in South Holland, Ill., will be one of 12 properties auctioned in a tax deed sale on June 22 by Auctions by ATG.
Mark Thomton, mthomton(at)taylorjohnson(dot)com, 312-267-4523
Emily Johnson, ejohnson(at)taylorjohnson(dot)com, 312-267-4522
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