The HUD (Housing & Urban Development) home can certainly represent a great home investment opportunity, but like other foreclosure properties, includes costs to the buyer that are not typical in the "normal" real estate transaction. There are also additional risks (the sales contracts and "addendum" required for foreclosure properties are weighted heavily in favor of the bank / seller of the property, and place numerous extra burdens on the buyer. However, for the savvy buyer, particularly those with plenty of available funds, they can also represent a great buy. I invite you to check out the available HUD Homes in Illinois. Because of the details and risks of purchasing a HUD home, it's advisable that you work with a qualified real estate agent who can guide you through the process. |