Balance will be due 8 days after notification by the Sheriff’s Office to the successful bidder that they have received confirmation of the sale. Payment of the unpaid balance beyond said 8 day period shall draw interest at 8% per annum from the date of notification to the successful bidder.

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Just over the border, at a Wayne County auction last week, an unidentified buyer placed a $3.2 million bid for 6,000 Detroit homes, roughly the minimum allowable bid of $500 per property. According to David Szymanski, chief deputy treasurer of Wayne County, the bidder is not likely to turn a profit from the properties.

 · As with foreclosures, visit the property if you’re local. The real estate agent may even offer open houses; if so, bring your contractor with you to help you assess what repairs might be needed. Register for the auction Most online auctions require you to register and submit a refundable deposit in the form of a credit card authorization.

Someone is stepping up to invest in Detroit, and while they are a mystery, an auction in Motor City of more than 6,000 foreclosed properties found an unidentified bidder who has offered $3.2.

Detroit Michigan news – freep.com is the Detroit Free Press. News about Detroit, as well as headlines and stories from around Michigan.

An auction in Motor City of around 6,000 foreclosed properties found an mystery bidder who has offered $3.2 million for the buy.. agreed to a $25 billion government settlement that may help roughly one million. and federal agencies, including the U.S. Justice Department and the. in 2010 that banks robo-signed thousands of foreclosure documents.

Those are two pretty good questions to ask. Karen Weise of Bloomberg Businessweek reports that an unidentified person has bid $3.2 million for more than 6,000 foreclosed properties up for auction.

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The opportunity existed at the end of the 2012 foreclosure auction for someone to purchase the 9,000 leftover properties, most of them in Detroit, at $500 a pop, for a total of $4.3 million. That’s half a million more than Hantz paid, and he only got one-sixth as many properties.

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6000 foreclosures for 3.2 million dollars If this is your first visit, be sure to check out the FAQ by clicking the link above. You will have to register before you can post: click the register link above to proceed.

Senate delays Janet Yellen Fed Chair confirmation There is no such thing as an easy vote in the current U.S. Senate, but Janet Yellen should have a relatively smooth path to confirmation if she is nominated by President Barack Obama to head the.