(735 ILCS 5/12-144.5)
Sec. 12-144.5.
Report of sale and confirmation of sale.
(a) When the premises mentioned in the certificate are
not redeemed in pursuance of law, the legal holder of the
certificate shall promptly make a report to the court that
issued the underlying judgment. The report shall include a
copy of the certificate of sale; an affidavit, under oath,
containing a good faith appraisal of the fair market value
of the property; and a listing of all liens and mortgages
including the value thereof.
(b) Upon motion and notice in accordance with court
rules applicable to motions generally, including notice to
the judgment debtor, the court issuing the underlying
judgment shall conduct a hearing to confirm the sale.
Unless the court finds that (i) notice as required by law
was not given, (ii) the terms of the sale were
unconscionable, (iii) the sale was conducted fraudulently,
or (iv) justice was otherwise not done, the court
shall then enter an order confirming the sale. In making
these findings, the court shall take into account the
purchase price at the sale in relation to the fair market
value of the property less the value of any mortgages and
liens.
(Source: P.A. 91-924, eff. 1-1-01.)
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