In celebration of Veterans Day, the Detroit Land Bank Authority is excited to announce a new Veterans Discount Program allowing eligible U.S. Veterans to receive a 50% discount on select  Auction  Properties. For specific details please view the Veteran Discount Purchaser information online by selecting Discounts under the Resources tab. 

 

Discount



Detroit School Employee Discount

The Educator Discount offers the opportunity for current, full-time educators and support staff within the City of Detroit to utilize a 50% discount on DLBA Auction homes.

Create an account by registering at www.buildingdetroit.org

Under discounts, select, “I work at a school (PK-12) in the city of Detroit - 50% Discount”

Select your employer

Note: Don't see your employer upon registration? Email [email protected] to help get your school signed up!

Must be a current and full-time educator for grades PK-12 within the City of Detroit

Must be a current and full-time support staff (principals, counselors, teacher's aides, etc.) for schools, grades PK-12, located within the City of Detroit

The discount can only apply to an individual, not a corporation

Note: Your discount request will be verified by the entity you selected to receive the discount through. The DLBA does not accept or reject these requests.

Receive up to 50% off the price of their Auction home. Discounts will be applied at closing.

Discounts can only be used once

Click here for the policy and important purchase requirements when utilizing the discount

 


City Employee Discount

The City Employee Discount offers the opportunity for employees, contractual employees, retirees and their immediate family members of the City of Detroit and all participating affiliated governmental agencies and authorities to utilize a 50% discount on DLBA Auction homes.

Create an account by registering at www.buildingdetroit.org

Under discounts, select, "I am a city employee or retiree (does not include schools) - 50% Discount"

Select your employer

Eligible participants include:

Employees and contractual employees who are currently employed by the City of Detroit or a participating affiliated governmental agency or authority.

  • 36th District Court
  • Detroit City Council
  • City of Detroit
  • Detroit Building Authority
  • Detroit Economic Growth Corporation
  • Detroit Housing Commission (DHC)
  • Detroit Public Library
  • Detroit Zoological Society
  • Public Lighting Authority
  • Detroit Employment Solutions Corporation (DESC)

Retirees from the City of Detroit, or a participating affiliated governmental agency or authority.

Immediate family members, 18 years or older, of any individual that qualifies under number 1 or 2 above, including:

  • Children
  • Parents
  • Spouses
  • Legal guardians
  • Siblings

The discount can only apply to an individual, not a corporation

Note: Your discount request will be verified by the entity you selected to receive the discount through. The DLBA does not accept or reject these requests.

Receive up to 50% off the price of their Auction home. Discounts will be applied at closing

Discounts can only be used once

 


Skilled Trade Employment Program (STEP) Discount

The STEP Discount offers the opportunity for eligible active and in good standing members of trade union locals that participate in the City of Detroit's Skilled Trade Employment Program to utilize a 50% discount on DLBA Auction homes.

Create an account by registering at www.buildingdetroit.org

Under discounts, select, “Skilled Trades Employment Program (STEP) - 50% Discount"

Select your Local

Must be an active and in good standing member of the trade union locals that participate in the City of Detroit's Skilled Trade Employment Program who meet their established goals under that program.

The discount can only apply to an individual, not a corporation

Note: Your discount request will be verified by the entity you selected to receive the discount through. The DLBA does not accept or reject these requests.

Receive up to 50% off the price of their Auction home. Discounts will be applied at closing

Discounts can only be used once


Homebuyer Counseling Discount

In order to use the 20% discount in the purchase of a property, prior to bidding you must complete the homebuyer counseling course, apply for the 20% discount through the Detroit Land Bank’s website, and be approved for the discount by the relevant homebuyer counseling agency. Discounts will not be granted retroactively. Please seek approval prior to bidding.

To apply for the discount:

  • If you do not already have an account at buildingdetroit.org, go to the Detroit Land Bank’s website and create an account Registration Page
  • If you already have an account, log in and go to My Account/Discount

To register for a homebuyer education course choose from one of these agencies.

Participating Homebuyer Counseling Agencies Contact Information:

The 20% discount on the purchase price will be applied at closing on the sale of the property. Your credit card will automatically be charged $1,000 upon winning the bid, regardless of any discounts. For example, if you win a bid at $1,100, your credit card will automatically be charged $1,000 immediately upon winning the bid. At the time of closing, you will receive a $220 credit (or 20% of $1,100) and will pay only the remaining closing costs and current year property taxes.

All individuals who use a 20% homebuyer counseling discount in the purchase of a Detroit Land Bank auction property (“Homebuyer Counseling Discount Purchasers”) will be required to occupy the dwelling as their primary residence upon completion of the Detroit Land Bank’s rehab requirements. The Homebuyer Counseling Discount Purchaser must provide documentary evidence, such as a copy of the stamped Principal Residence Exemption Form submitted to the City of Detroit Assessor’s office, that he or she is occupying the property upon completion of the rehab.

All eligibility and other requirements that apply under the Detroit Land Bank Authority’s rules and procedures for the auction, or other sales, will apply to Homebuyer Counseling Discount Purchasers.

The property must be purchased by an individual and cannot be purchased by a corporation, limited liability company, joint venture, or other legal entity. The property may be transferred to a single member limited liability company only after the rehab requirements and a rental inspection has been completed.

One discount will be given per registered discount bidder. Bidders will not be granted more than one discount through the Homebuyer Counseling Discount program, nor will bidders be granted more than one discount across multiple programs – e.g. a discount through the City Employee Discount program and a discount through the Homebuyer Counseling Discount program. Bidders cannot combine or use multiple discounts.

If a bidder applies and is approved for multiple discounts, the higher discount amount will automatically take effect – e.g. if a bidder is approved for the 50% Employee Discount and is subsequently approved for a 20% Homebuyer Counseling Discount, that bidder will receive a 50% discount on the purchase price of the next property he or she wins in the auction.

 

 

Veterans Discount Policy

A 50% discount will be given on auction properties sold by the Detroit Land Bank Authority (the “DLBA”) to eligible veterans of the United States armed forces (each, a “Veteran Discount Purchaser”). Full benefits shall vest after an eligible Veteran Discount Purchaser holds the discounted property for three years.

Each Veteran Discount Purchaser must be a person who served in the active military, naval, air, or space service, and who was discharged or released therefrom under conditions other than dishonorable. A Veteran Discount Purchaser must satisfy the eligibility requirement on the date that the discounted property is transferred to them by the DLBA.

In order to realize the full value of the 50% discount, a Veteran Discount Purchaser must continue to own the discounted property for three years. If a Veteran Discount Purchaser sells the discounted property in less than three years, such Veteran Purchaser must pay to the DLBA a percentage of the profits realized in that sale, as follows:

• if the sale occurs in the first 12 months after the closing, pay 75% of the profits;

• if the sale occurs between 12 and 24 months after the closing, pay 50% of the profits; or

• if the sale occurs between 24 and 36 months after the closing, pay 25% of the profits. “Profits” is defined as (i) the price at which the Veteran Discount Purchaser sold the discounted property, minus (ii) the discounted price paid to the DLBA for the original purchase, and minus (iii) the documented expenses incurred in rehabilitating the discounted property.

The following requirements apply to all sales of properties to Veteran Discount Purchasers:

1. All eligibility and other requirements that apply under the DLBA’s rules and procedures for auction sales will apply to a Veteran Discount Purchaser. This includes, but is not limited to, the requirement that the property be rehabilitated and occupied within six months, or nine months in the case of a designated historic property.

2. Neither a Veteran Discount Purchaser, nor any legal entity in which that purchaser has an ownership interest, can have unpaid delinquent property taxes on properties located in Wayne County, or have lost property to back taxes in Wayne County in the last three years.

3. Neither a Veteran Discount Purchaser, nor any legal entity in which that purchaser has an ownership interest, can have material unresolved blight or code violations in the City of Detroit.

4. The Veteran Discount Purchaser cannot have won a previous DLBA auction or contracted for any other DLBA property purchase and then failed to make the down payment, close on the purchase, or satisfy the conditions of bringing the property up to code and having it occupied within the required period.

5. The discounted property must be purchased by an individual and cannot be purchased by a corporation, limited liability company, joint venture, or other legal entity.

6. After completing the auction property rehabilitation requirements and submitting proof of rental registration to the DLBA, the discounted property may be transferred to a single-member limited liability company.

Anyone seeking to qualify as a Veteran Discount Purchaser must register on the buildingdetroit.org website and select, ” Veteran Discount Purchaser” at the time of registration. All Veteran Discount Purchasers must be verified by presentation of completed form DD214 or service letter from the Department of Veteran Affairs.