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HUD Home — 1232 Olive St, Collinsville, IL 62234
This lot sold for $70,000 at government auction in Collinsville, IL on July 24, 2026.
List Price
$0
Listed Until
Jul 24, 2026
Bids accepted in rolling periods
Market demand: Real Estate in Illinois sell about 29% of the time, typically ~2 bids. Based on 193 completed sales over the last year.
- This is the asking price set from that appraisal, not a below-market auction bid - a fair price for the home, not a guaranteed bargain.
- The real edge of a government REO is a clean sale: clear, insurable title with any past-due property taxes settled at closing.
- Sold as-is with no seller repairs, so budget an inspection and repairs on top of the price.
The appraisal reflects the home's condition when it was inspected; values change over time. Not an independent valuation or investment advice - always inspect and confirm the numbers before you make an offer.
- This listing: conveys with clear, insurable title. Past-due property taxes are settled at closing by the seller, there is no redemption period, and no former owner can reclaim it.
- County tax sales in Illinois: Illinois is a tax lien state. The county sells the unpaid tax debt, not the house. You buy a certificate that earns interest, and you only get the property if the owner never repays. The former owner then has 30 months to reclaim the property. Title here usually needs a quiet-title action before it is insurable or resellable. None of that applies to this listing.
We do not estimate what a specific property owes. Lien and back-tax amounts live in county records and only a title search returns the real number, so any figure produced without one is a guess you should not bid against. Compare all 51 state tax-sale regimes. State-level rules, not legal advice.
FHA-insurable with repair escrow
Condition & financingNeeds roughly $500-$5,000 in repairs - livable, but budget for the fixes.
- Still FHA-financeable: the repair cost can be escrowed into the loan at closing.
- Eligible for HUD's $100-down payment program for owner-occupants.
- FHA insurability is set by HUD; the repair figures are HUD's ~$5,000 rule of thumb, not a per-home guarantee. Always get an inspection.
Seller
🏛️ U.S. Department of Housing and Urban Development
Condition: As-is
Full Description
HUD foreclosure property. Case #132-186538. Single Family Home · 3 bed · 1 bath · 947 sqft · Built 1960. 1232 Olive St, Collinsville, IL 62234. Owner Occupants, Nonprofits, and Government Agencies only. Contact a HUD-registered broker to submit an offer.
Pickup Information
U.S. Department of Housing and Urban Development
- This is the asking price set from that appraisal, not a below-market auction bid - a fair price for the home, not a guaranteed bargain.
- The real edge of a government REO is a clean sale: clear, insurable title with any past-due property taxes settled at closing.
- Sold as-is with no seller repairs, so budget an inspection and repairs on top of the price.
The appraisal reflects the home's condition when it was inspected; values change over time. Not an independent valuation or investment advice - always inspect and confirm the numbers before you make an offer.
- This listing: conveys with clear, insurable title. Past-due property taxes are settled at closing by the seller, there is no redemption period, and no former owner can reclaim it.
- County tax sales in Illinois: Illinois is a tax lien state. The county sells the unpaid tax debt, not the house. You buy a certificate that earns interest, and you only get the property if the owner never repays. The former owner then has 30 months to reclaim the property. Title here usually needs a quiet-title action before it is insurable or resellable. None of that applies to this listing.
We do not estimate what a specific property owes. Lien and back-tax amounts live in county records and only a title search returns the real number, so any figure produced without one is a guess you should not bid against. Compare all 51 state tax-sale regimes. State-level rules, not legal advice.
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Market data: see how government surplus prices are moving in the Surplus Price Index and how often each category sells in the Surplus Market Report.