Detroit launches website to auction city-owned homes
That’s the message on the homepage of buildingdetroit.org, a new website launched by the City of Detroit today to auction off city-owned homes to prospective buyers who pledge to fix them up and move in.
“We are moving aggressively to take these abandoned homes and get families living in them again,” Mayor Mike Duggan said in a statement today. “There are a lot of people who would love to move into many of our neighborhoods. Knowing that other people are going to be buying and fixing up the other vacant homes at the same time will make it a lot easier for them to make that commitment.”
The website to facilitate the auctions went live this afternoon.
The first auction is scheduled to take place Monday, May 5. Officials said in a news release that one home will be auctioned per day, Monday through Friday. Fifteen homes are available for sale on the site, a dozen of which are in the East English Village neighborhood.
Any Michigan resident, company, or organization that can do business in the state can bid, according to the website. Properties will be for sale for only one day, with bidding taking place from 8 a.m. to 5 p.m. Bids must increase by increments of at least $100, the website says. Auction winners must pay a down payment of 10 percent of the final price within three days of the auction closing.
The East English Village Association’s president said today it will host an open house April 27 for prospective bidders who want to check out the homes before the first auction.
“East English Village is eager to continue our partnership with Mayor Duggan, his office and the Detroit Land Bank with regrd to the next chapter in our quest for renovation of solid architectural gems,” President Bill Brlage said in a statement. “We are excited to partner again to produce another successful home tour showcasing a diverse, friendly and safe neighborhood.”
If the final purchase price of a home is $20,000 or less, the winning bidder must close on the property and pay the amount in full no later than two months after the auction closes, the website says. If the purchase price is more than $20,000, winners have up to 90 days to pay the full amount.
For more info, head over to the site.