• 15300 Stout, Detroit, MI 48223
• District: 1
• Area: 990^{Sq. Ft}
• Year Built: 1924
• Water Line Cut: Unknown
• 4 Beds
• 1 Baths

Neighborhood: Brightmoor

This property is in an exceptionally distressed condition or has been removed from the list of demolition candidates to provide an opportunity for the purchase and rehabilitation to buyers who demonstrate a clear intent and the capacity to carry out necessary renovations.  

Buyer requirements include being able to show proof of funds of at least $15,000 or $5,000 if the buyer holds a license for one of the construction-related skilled trades.  Proof of funds may include, but are not limited to, a bank statement, line of credit, or a loan approval letter verifying possession of or access to the minimum amounts.     

To be eligible to bid on this property, potential buyers must request and complete a viewing of the property prior to submitting a bid. This property will be available to view until 04/14/2025 or until the property receives a bid, whichever is sooner. To schedule an appointment, please click the "Request Property Viewing" button in the upper right section of this listing.

Bidding for this property will close on the sooner of (a) 72 hours after the DLBA receives a bid, or (b) April 16, 2025. 

The Detroit Land Bank Authority has no knowledge of the condition, connection, or operability of the water service line that would normally connect this property to the water main, the line may be severed, damaged, or otherwise inoperable. Obtaining water service to this property may be a significant challenge and cost to the purchaser, in addition to the other challenges and costs of rehabilitation. Further, the water service line may be a lead line that requires replacement at the homeowner’s expense. The cost to reconnect a water service line can exceed $10,000 or more, and the purchaser will be required to reconnect the water service line at their own expense as part of the purchaser’s contractual obligation to rehabilitate the property. In other words, if you buy this property and the water line has been cut or needs to be replaced, you will have to pay to reconnect or replace it.  Reconnecting or replacing the waterline is not included in the purchase price.

The Detroit Land Bank will issue a Quit Claim Deed at closing, which transfers its interest in the property. The purchaser will be responsible for any delinquent taxes, water bills, or liens on the property. To learn if any back taxes are owed on the property, please call both the City Assessor’s Office at 313-224-3560 and visit the Wayne County Treasurer’s website by clicking here (or you may call the Wayne County Treasurer at 313-224-5990). The purchaser will also be responsible for paying all current year real property taxes, as well as property taxes in all future years.

This property has been pre-screened and determined to have clean title. Purchasers of this home will close with a title company and be offered Title Insurance. Title Insurance helps protect ownership rights and may benefit those seeking financing on the home.

**The City Employee Discount CANNOT be applied to Own It Now or Demo Pull Listing purchases.** Please note that any other discounts (e.g. the homebuyer counseling discount) on the purchase will be granted at the time of closing on the sale. For more information on discounts and other policies, click here. 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: Starting at $600
• Recording fee: $30
• Tax certification fee: $25
• Title Insurance: Starting at $322.25
• Closing postponement fee: $50.00 each occurrence 
  
  

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.

Purchasers are required to schedule a Pre-Sale Inspection by the City of Detroit Building Safety, Engineering, and Environmental Department (BSEED) within 14 days after closing on the sale. The fee is $352 for a 1-unit dwelling or $380 for a 2-unit dwelling, but may be subject to change by the City of Detroit.

Note: This property is sold “AS IS, WHERE IS, WITH ALL FAULTS”. The Detroit Land Bank makes no warranty or representation, express or implied, or arising by operation of law, including, but not limited to, any warranty of condition, habitability, merchantability or fitness for a particular purpose, with respect to the physical condition or status of the title to this property.

Please Note: Due to debris and/or limited access, a portion of this property could not be inspected and therefore is not shown in listing photos. Please schedule a private viewing appointment to see entire property conditions.

An aerial image of the parcel for sale can be found at this link: https://cityofdetroit.github.io/parcel-viewer/22101270./