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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 Discountsunder the Resources tab.
Please note: This listing is for the purchase of one half of an adjoining duplex. The other half of this structure is not included in the sale of this property.
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.
Watercut Reason : 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 the rehab cost will often cost more than the winning bid price. Failure to bring a property up to code within 6 months will result in forfeiture of property (9 months for historic properties). Auction dates are subject to change. Check the site regularly to be aware of any schedule changes.
Public Notice
PROPERTY OWNED BY THE DETROIT LAND BANK IS NOT OPEN TO THE PUBLIC. ACCESS TO OR ENTRANCE UPON SUCH PROPERTY WITHOUT THE WRITTEN CONSENT OF THE DETROIT LAND BANK AUTHORITY CONSTITUTES TRESPASS, AND IS A VIOLATION OF MICHIGAN LAW. TRESPASSERS MAY BE SUBJECT TO CIVIL AND CRIMINAL PENALTIES.