IL SB2919

Authorizes judges, sheriffs, or other court-designated persons to conduct foreclosure sales in person, online, or both, with mortgagees able to request their preferred format.

Requires notice of sale to include whether the sale will be held online or in person, and if online, must specify the website where bidding will occur.

Creates new Section 15-1507.2 establishing requirements for online judicial sales, including identity verification for bidders, security standards (SOC 2 Report certification), and prohibition on third-party providers maintaining custody of sale funds without court approval.

Caps online sale fees at $400 for residential real estate foreclosures unless higher fees are court-approved, and prohibits charging public fees to view properties or participate in auctions.

Requires online residential real estate sales to remain open for up to 3 days with extendable bidding periods to allow competitive bidding, and mandates simultaneous announcement of bids at in-person sales when sales are held both online and in person.