DETROIT (WWJ/AP) – Officials say more than 14,000 tax-foreclosed properties in Wayne County are scheduled for auction this year.
The office of the Wayne County Treasurer announced the listing Thursday, which includes rules and regulations for bidders to take part in the September auction.
Treasurer Eric Sabree says the foreclosure rate is down in the past year, but thousands of residential properties have to be sold.
“There is a lengthy process that takes place over several years before a property is foreclosed on in Wayne County,” Sabree said in a statement. “Unfortunately there is a substantial number of residential properties that are going up for auction in September and in a secondary auction in October.”
Bidding for the first auction starts Sept. 7 and ends in batches between Sept. 20 and Sept. 23. A second auction starts Oct. 14 and ends Oct. 25-28.
To register to bid for a property, you must make a deposit of $2,535 for one property or $10,035 to bid on multiple properties. Buyers have 48 hours to pay in full for the properties. Unsuccessful bidders will receive a refund of their bid deposits.
In Wayne County, about 28,000 homes were foreclosed on last year. The treasurer’s office notes that the county is bound by state law to auction foreclosed properties.
“I am doing everything within my power to help people be successful with making their payments and keeping their homes,” said Sabree. “We have community outreach programs, financial counseling and interest rate reduction programs. We also make proactive calls to delinquent homeowners and have implemented a new kiosk technology to make it easier and more convenient for people to make their taxes. Our goal is for all taxpayers enrolled in plans to become current on their taxes and continue to help reduce the foreclosure rates.”
A lawsuit seeking to prevent the auctioning of tax-foreclosed homes is pending.
For more information or to register for the auction, click here or call 313-224-2864.
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