February 3, 2012
Just a Reminder — New, Updated Forms Now Available
Dear ATG Members and Friends,
I'm following up on the e-mail that went out yesterday announcing our first auction, taking place on February 10, 2012 at 9:00 a.m. The auction is fast approaching and will present some great buying opportunities for qualified purchasers.
In cooperation with Fannie Mae, Auctions by ATG is participating in a pilot program wherein we are offering their "Last Look" properties to pre-registered bidders who submit a prequalification letter or sufficient proof of funds. Fannie Mae selected 90 Illinois properties to be included in this auction. These are properties Fannie Mae is particularly motivated to sell.
The first "Last Look" auction is right around the corner:
The Fannie Mae "Last Look" auctions will be reserve auctions (subject to seller confirmation) with quick closings (within 30 days or less from the date of contract execution).
The first step is to register as a bidder or absentee bidder. Here’s how it works:
Step 1. Complete the Auctions by ATG Exclusive Buyer-Broker Agreement and Illinois Association of Realtors Disclosure of Contemporaneous Offers forms (or click Auctions by ATG - Upcoming Auctions under ATG Subsidiaries at www.atgf.com) and return these documents to us as soon as possible to:
Auctions by ATG
One South Wacker Drive, 24th Floor
Chicago, IL 60606-4654
Fax: 312.224.0246
E-mail: mfgill@atgf.com.
Watch your e-mail for the list of properties.
| Licensed Illinois Real Estate Brokers: If you or a client you refer close on a property purchased at the auction, we will pay you a referral fee equal to 20% of our commission on the sale. You must complete and return the applicable form to Auctions by ATG no later than one business day prior to the auction (February 9) to be paid for successful referrals
|
Step 2. Only bidders who have signed and returned the Auctions by ATG Exclusive Buyer-Broker Agreement and Illinois Association of Realtors Disclosure of Contemporaneous Offers forms will receive the email containing the list.
Step 3. All bidders (including absentee bidders and pre-auction bidders) must complete the Auctions by ATG Registered Bidder Forms and provide us supporting financial documentation (pre-qualification letter or proof of funds).
Step 4. If you are interested in a property, we strongly urge you to submit a pre-auction bid. To do so, please contact me (dpeterson@atgf.com or 312.752.1413). Some properties will be sold prior to auction day. To ensure your bid is considered, please contact us to submit a pre-auction bid.
Step 5. Attend the auction Friday, February 10, 2012, at 9:00 a.m., at the Chicago address, above.
Step 6. If you are the winning bidder, we will assist you in submitting your bid to Fannie Mae in the form of an Offer to Purchase. For most properties, Fannie Mae will respond to an offer submitted within 24 hours (for some, Fannie Mae will respond by close of business on the same day).
We thank you for your interest in Auctions by ATG and look forward to registering you to bid at this upcoming auction. Questions? Please email or call me.
Best,
Diana M. Peterson
Executive Vice President
Auctions by ATG
dpeterson@atgf.com
312.752.1413
|
|
|
|
Attorneys' Title Guaranty Fund, Inc. and its subsidiaries provide services for member attorneys and their real estate clients. ATG works with lenders, Realtors, and other parties to ensure that each real estate transaction is completed in a professional and hassle-free manner. Contact us today! 800.252.0402. |
 |
|
|
[Send date: 2-3-12]
|