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Anybody else fascinated with tax sales?
Here is a house down the road from Nancy Whiskey
http://whydontweownthis.com/detail/21/6427?sat=1
Some Woodbridge action...
http://whydontweownthis.com/hood/65?....3481/-83.0776
Start here to explore...
http://whydontweownthis.com/#11.37/42.3536/-83.0999
This is the first auction, usually the prices go way down on the leftover auction.
FYI- all three properties in north corktown, including the first one you have showing, are all vacant land
Sorry about that, the 'house' near Nancy Whiskey is not a house!
Maybe this link will work...
Nice house at 4843 Commonwealth
http://whydontweownthis.com/detail/21/4771
Location, Location, Location
Downwind of the Rouge plant, Detroit Sewer Works AND Zug Island! [[depending on wind direction)
http://whydontweownthis.com/detail/21/813?sat=1
I bet that block of 4 newer 3 storey townhouses on the 1500 block of W Canfield with an opening bid of around $30K-$40K a piece is another large landlord like Cusimano trying to write off huge back taxes.
If anyone's looking for some really nice student rentals, those look like ones well worth bidding on.
They are not vacant lots in the satellite view, but here's the addresses.
1508 W CANFIELD $38,400.00 08005877.001 Vacant lot 1512 W CANFIELD $37,700.00 08005877.002 Vacant lot 1516 W CANFIELD $29,900.00 08005877.003 Vacant lot 1520 W CANFIELD $31,400.00 08005877.004L Vacant lot
I've never owned a house and am not familiar with these tax auctions. I'm not sure I would want to buy a house, but at these prices it seems like it may be cheaper than renting. Do you have to pay back taxes on the house if you buy it? Is it possible to tour the house before you bid on it? Even a free house would be expensive to maintain and pay taxes on I'm sure, with much more hassle than renting. But it is fun to browse the list of houses. I can't believe how many are on there! Seems like some good deals up in Grandmont Rosedale Park neighborhoods too.
You would be surprised with how many have flooded basements, etc.
Unless you see an ENORMOUS starting price which means it has been seriously lost for taxes usually there is either a physical or title issue.
I know of a property that took two years to get a deed as the previous owner launched a lawsuit over the small house claiming that he wasn't properly informed of the impending forfeiture. In the end the previous owned trashed the house and the new owner had to pay taxes for the period he didn't have the deed.
As always have a good lawyer and buyer beware.
Most tax sale houses are abandoned by owners who realize the cost of repairs exceed the value of the home. There are some that may be good buys, but most are junk. The only way to know is to inspect them and get a good estimate of what it would cost to make the house livable. Then compare to buying a nearby house in livable condition on the real estate market.
It is fun to look but be very careful if you are going to bid.
There is another auction after the first auction. The first auction generally has high minimum bids. The second auction is no reserve.