• 12792 Loretto, Detroit, MI 48205
• District: 4
• Area: 900^{Sq. Ft}
• Year Built: 1926
• Water Line Cut: No
• Water Line Cut: No
• 3 Beds
• 1 Baths

Neighborhood: Eden Gardens

Purchasers should plan on making a range of repairs to the property, and bidders are strongly encouraged to review the attached Inspection/Condition Report for more detail.  We strongly encourage all potential home buyers to view the property prior to purchase, either through an open house or a private showing. Please also note that at closing the purchaser will be responsible for paying all properly-assessed property taxes not otherwise exempt pursuant to the statutory authority of the Detroit Land Bank.  The fee for the attached Inspection/Condition Report is $295.00 and will need to be paid at closing.  

The Detroit Land Bank Authority does not have knowledge as to the status of the water service line on this property. If the water service has been disconnected, the DLBA is unaware of how the water service has been disconnected or where any cuts or other damage to the water service line are located. The cost to reconnect a water service line can exceed $10,000, and any purchaser will be required to reconnect the water service line at their own expense as part of the purchase requirement to rehabilitate the property.

Please note that any discounts on the purchase (e.g. the city employee discount) will be granted at the time of closing on the sale. The purchaser will be charged $1,000.00 upon winning the bid, regardless of any discounts.  In addition to paying the remaining sale price on your property, you should be prepared to pay the following estimated closing costs:

Closing/Title fees: $450

Recording fee: $30

Tax certification fee: $25

Title Insurance: Starting at $322.25

Note: These are only estimates and are subject to change. If you are obtaining financing from a lender you should anticipate closing costs from your lender. You will receive an itemized invoice at your closing.

An aerial image of the parcel for sale can be found at this link: https://cityofdetroit.github.io/parcel-viewer/21012273./