What is a HUD Home?

A HUD home is a foreclosure property currently owned by the Department of Housing and Urban Development.  These properties can be great opportunities to purchase for yourself or as an investment.  You will notice these homes have a 10 day initial offering to people who are going to live in them.  If the property isn’t purchased within that 10 days at a ‘fair’ price then the home is available for investors to buy.  If you look at each individual property you will also notice a property report which will give you some specific information concerning what may be wrong with the property.  Understand it may not be accurate as of today, but when the report was done it was accurate to the best of the inspectors knowledge.  The nice thing is there aren’t many other foreclosure properties that provide you with a report.  HUD does provide closing costs and they do pay Realtor commissions.

As a HUD designated agent, Amy Kite knows specifically what needs to be done in order to help you purchase a HUD home for the best possible price.  We can view all these properties at your convenience and all offers are initially placed electronically.  We will have a response to an offer within 2 business days unless it is during the initial owner occupant purchase window in which case it may take us 10 days.

Click Here to Search Chicagoland HUD homes

We look forward to helping you with your real estate needs.  If you have any questions, please do not hesitate to email Amy at Amy@AmyKite.com or call 847-877-9881.