Illinois Real Estate Q&A Discussion Forum
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply
NEW TO THE GAME - Intersted in a property "HUD Home"
I'm new to the BP/world... From Chicago!
I'm absorbing everything, and now I have a property that is listed as a HUD HOME.
Can someone shed some light on these items?
"Seller may contribute up to 3% for buyer's closing costs, upon buyer's request. EHO, Insurability Code: IE, subject to appraisal"
I understand the first sentence.. but the rest is foreign language...
Also, the listing has "Please see agent remarks for offer submission instructions" but I couldnt find any on the listing...
Please advise,
Most Popular Reply
I assume you found this via another website other than hudhomestore.gov ? This site is the only accurate site for hud properties. You will have to find an agent with an NAID number to place the bid
The closing costs only apply for owner occupant purchases. IE has rondo with the insurability for an FHA loan which is not available to investors