Illinois - Beyond Zero Percent

Comments(9)

• 
  sccerb4th June, 2004

  The first individual to go to zero obtains the property.
  
  In cook county, the entire room screams zero and the auctioneer determines who obtains the call
  [addsig]

• 
  achab4th June, 2004

  Quote:
  On 2004-06-04 20:43, sccerb wrote:
  The first individual to go to zero obtains the property.
  
  In cook county, the entire room screams zero and the auctioneer determines who obtains the call
  
  
  
  Thanks sccerb for the info. Are most liens bid down to 0 in Cook County ? How about other counties in Illinois ?
  [addsig]

• 
  compwhiz7th June, 2004

  Same deal in Lake county as well.

• 
  GlennI8th June, 2004

  I've seen it also in Kane and McHenry counties as well. Sometimes the bidders have deep pockets and are looking to buy a large portfolio of liens and use the 0% to fill out their portfolio in the hopes that some will not be redeemed. Even for the ones that do, their cost to service is minimal due to their volume...
  
  It can frustrate the heck out of me if it's a property I want -- but thats life in the Illinois Tax lien world...

• 
  team_co_op9th June, 2004

  Even in the lowley southern Illinois counties of Jackson and Williamson (only ones I have attended so far) 0% is the norm. :-x

• 
  lp19th June, 2004

  once it reaches zero bidders start to bid a premium for the lien.

• 
  achab9th June, 2004

  Quote:
  On 2004-06-09 13:28, lp1 wrote:
  once it reaches zero bidders start to bid a premium for the lien.
  
  
  Can anybody else confirm this, that, in ILLINOIS, there is a premium bid (as in New Jersey, where people bid down the interest then bid up a premium) ?
  [addsig]

• 
  GlennI10th June, 2004

  In the counties I attend I know there is no premium allowed. I'm 99% sure that is the case for the entire state.

• 
  team_co_op11th June, 2004

  Quote:
  On 2004-06-09 13:28, lp1 wrote:
  once it reaches zero bidders start to bid a premium for the lien.
  
  
  There is no premium bid in Illinois.