Wayne
County
Treasurer
announces
2016
listing
of
auction
properties,
rules
and
regulations
DETROIT,
MI - The
Wayne
County
Treasurer’s
office
has
released
a
listing
of more
than
14,000
properties
and
rules
and
regulations
for
bidders
to take
part in
the
September
auction
of
foreclosed
properties,
it was
announced
today.
“There
is a
lengthy
process
that
takes
place
over
several
years
before a
property
is
foreclosed
on in
Wayne
County,”
said
Eric
Sabree,
Wayne
County
Treasurer.
“While
we have
reduced
the
foreclosure
rate by
nearly
50% in
the past
year,
unfortunately
there is
a
substantial
number
of
residential
properties
that are
going up
for
auction
in
September
and in a
secondary
auction
in
October.”
Michigan
law
requires
that
properties
subject
to tax
foreclosure
be made
available
to the
state,
local
communities,
and the
County
for
purchase
prior to
public
auction.
Remaining
properties
are
offered
for sale
to the
public
through
an
online
auction
in
September
and
October.
“Bidders
need to
be aware
that new
state
laws
will not
allow
the
former
owner of
a
property
that has
been
foreclosed
to
purchase
that
property
at
auction
for
anything
less
than the
taxes,
fees,
and
interest
that
were
outstanding
at the
time of
foreclosure,”
Sabree
said
The
Wayne
County
tax
foreclosure
auction
generates
interest
from
property
investors
locally,
nationally
and
internationally
and
anyone
who
wishes
to
participate
must
follow
the
registration
rules
and make
an
online
deposit
in order
to be
pre-qualified
to bid
on
properties.
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.
Unsuccessful
bidders
will
receive
a refund
of their
bid
deposits.
Registration
for the
first
public
auction
is from
August
18th
through
September
9th.
Bidding
for this
auction
starts
on
September
7th and
will end
in
batches
beginning
on
September
20th and
ending
on
September
23rd.
Registration
for the
second
auction,
of
remaining
properties,
takes
place
from
October
11th
through
October
17th.
Bidding
opens on
October
14th and
ends in
batches
October
25th -
28th.
Buyers
have 48
hours to
pay in
full for
the
properties.
“Wayne
County
is
comprised
of 43
municipalities
and many
institutions
that
rely on
proceeds
from the
annual
foreclosure
auctions,”
said
Sabree.
“By law
we
cannot
delay or
halt the
auction
and to
do so
would
prevent
money
from
going to
the
Detroit
Public
Schools,
the City
of
Detroit,
the DIA,
Wayne
County
Community
College,
the
Wayne
County
jail,
parks
and the
Detroit
Zoo to
name a
few.”
“As the
Treasurer
for
Wayne
County,
I am
doing
everything
within
my power
to help
people
be
successful
with
making
their
payments
and
keeping
their
homes,”
said
Treasurer
Eric
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.”
To
contact
the
Wayne
County
Treasurer’s
office
about
the
upcoming
auctions,
send an
email to
WCTauction@waynecounty.com,
visit us
at 400
Monroe,
5th
Floor,
in
Detroit
MI, or
call
313-224-2864.