| As we pointed out yesterday, lenders are turning to brokers to help them unload Chicago-area REOs in a (hopefully) improving economy. But Attorneys' Title Guaranty Fund is betting that some lenders want to be rid of their unwanted properties in other ways, like auctions. (We hear Craigslist has an interesting audience.) Recently Attorneys' set up Auctions by ATG to auction residential and commercial REOs, short sales and other properties online or live. Auctions by ATG EVP Diana Peterson tells us that demand will be strong because properties can be sold in four to six weeks, close in 30 days or less, and sold "as is" with no warranties or contingencies. |
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