Genesee county handles tax foreclosures a bit differently than other counties.
See the Land Bank site for a bit more info.
|Tax Law Comparison Chart
|Former Foreclosure Law
• 4-7 year process
• No clear title
• Hundreds of owners
• Low-end speculation
• Indiscriminate foreclosure
•• homeowners at risk
• Contagious blight
New Tax Law (PA 123 of 1999)
• 1-2 year process
• Clear title judgment
• Property titled to county
• Tax liens eliminated
• Hardship postponements
- Step 1, look at the list of offerings… http://www.michigan.gov/taxes/0,1607,7-238-43535_55601_55604—,00.html
- #2: look up the property online/ local gov’t office/ physically inspect in person
- #3: review the FAQ’s then go bid – OR send us on your behalf.
- Subdivision plat maps for the entire state are available via the Department of Energy, Labor and Economic Growth (DELEG) at http://www.dleg.state.mi.us/platmaps/sr_subs.asp.
If the property doesn’t sell at the first “reserve” auction, or the 2nd “no reserve auction”, it can then be aquired via the Land Bank. http://www.thelandbank.org/prop_acquisition.asp http://www.thelandbank.org/prop_find.asp?LRCsearch=setredo
RECENT RELATED ARTICLES/ INFO:
Where tax foreclosures are not handled by the state, the local governments are given option to sell properties themselves, typically thru the use of an auction company such as this one that offers online bidding at the first of 2 sales. Recall the spring sale is usually w/ reserve, often the fall sales ( for properties left over ) are no reserve and typically in person bidding is required: http://www.tax-sale.info/
Wayne County Treasurer to Auction Tax Foreclosed Properties Online
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