The Auction Process

To receive a brochure on the properties being offered in our upcoming auctions, either click "contact us" or call our office at (630) 705-5500. We will mail you a complete color brochure, which features all of the properties available in our upcoming auctions. In addition, the brochure highlights the Real Estate Auction Terms and Conditions and specifies the scheduled open houses/on-site inspection dates. The open houses/on-site inspection dates are your opportunity to view the properties, speak with an auction company representative and receive a complete Bidder's Package, which contains detailed information regarding each property and the auction process.

Westar Properties conducts both Open Outcry auctions and Sealed Bid auctions. Open Outcry auctions are typically held at a local hotel ballroom or meeting room. Bidders are seated theatre-style with an Auctioneer standing at a podium at the front of the auction room conducting the auction. To bid during the auction, bidders should simply shout out their bid or instruct a Bidder's Assistant to shout out their bid for them. The winning high bidder is then escorted up to the front of the auction room to sign the Real Estate Contract, copies of which are available for review prior to the auction. With Sealed Bid auctions there is no live auction event. Instead, bidders are invited to send their best bid in to our office on or before a specified deadline. The highest and/or best offer is determined to be the winning bid.

With both Open Outcry and Sealed Bid auctions, bidders are required to furnish a certified or cashier's check as an earnest money down payment. Closings typically take place between 30 and 45 days from the day of the auction to allow time for purchasers to attain financing, if so desired.

For further information regarding the specific terms of each property being offered at auction, please refer to the Real Estate Auction Terms and Conditions found in the auction brochure, and review the Real Estate Contract found in each property's Bidder's Package.