735 ILCS 5/15-1507.2 — Illinois Code / Chapter 735 / Act 5 / Section 15-1507.2
Section 15-1507.2
Status: in_force

(735 ILCS 5/15-1507.2) Sec. 15-1507.2. Online judicial sale. (a) The sheriff or other person may conduct the sale online in accordance with this Article. (b) The sheriff or other person may engage a third-party online sale provider to assist with performance of the online sale. Any third-party online sale provider engaged by a sheriff must be acquired through a process that confirms that the provider meets the requirements set forth in this Article. (c) In this Section, "third-party online sale provider" means any sale platform or services provider that is not the person conducting the sale or a party to the case involving the judicial sale and that is engaged by the person conducting the sale to assist with conducting the sale online in accordance with State law. (d) The sheriff or other person may charge an additional fee as a reasonable expense of the sale for costs associated with conducting the sale online. (e) For any foreclosure involving residential real estate, the fee set forth in subsection (d) may not exceed $400, unless a higher fee is otherwise approved by the court. Any fees not charged as a cost in the case may be agreed to and paid directly by the judge, sheriff, other person conducting the sale or a party to the case without limitation. The fees charged under this Section shall not reduce or impact the sheriff's fees set forth in Section 4-5001 and 4-12001 of the Counties Code. (f) To conduct a sale online, the sheriff or other person conducting the sale must demonstrate to the court's satisfaction documented processes and procedures for conducting online auctions, adequate recordkeeping, and the ability to comply with the requirements in this Article. (g) If the sale takes place both online and in person, all bids accepted during the auction shall be simultaneously announced at the in-person sale and visible to the public online at the time the bids are placed. Any maximum bid amounts provided by bidders ahead of the sale shall not be visible to the public until the bid is placed. (h) There shall be no fee charged to the public to view properties for sale online or to participate in any auction in person or online. (i) Any third-party online sale provider may not maintain custody of sale funds on behalf of the judge, sheriff, or other person conducting the sale unless specifically approved by the court to maintain custody of funds on their behalf. (j) The sheriff or other person conducting the sale shall require a person seeking to bid electronically online to complete a registration process that includes providing information relevant to properly identify the bidder, contact the bidder, and complete the sale of the property as determined by the sheriff or other person conducting the sale. (k) If the person registering to bid is an individual, the information required shall include the individual's name, electronic mail address, and telephone number. (l) If the person registering to bid is an entity, the information required in this Section shall include the entity's legal name, name of an individual contact person for the entity, electronic mail address, and telephone number. (m) The sheriff or other person conducting the sale online shall require all bidders who wish to participate in bidding online to have their identity verified through an identification verification process before a bid can be placed online, which may include verification through a government issued identification, biometric verification, or other method of verification as determined by the judge, sheriff, or other person conducting the sale. If a bidder's identity cannot be verified through the verification process, then the bidder may be prohibited from participating in the online sale. (n) The purchaser at the sale shall submit to the person conducting the sale the following information prior to the sale being finalized: (1) All winning purchasers shall provide any required information to be checked against