Process of buying a foreclosure property in Detroit

Investor · Member since 2020 · 337 posts · 213 votes

What is the process of getting a foreclosure in Detroit? I heard/read that there is some processes in place where if you are an investor you are bottom of the list of people they will offer it to?

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Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
3y
You really like that house, huh? lol
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
3y
@Vadim F. what type of foreclosure are you referring to?
Property tax foreclosures are sold via online auctions.
Mortgage foreclosures are sold monthly at county offices via auction.
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Vadim F.
OP
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @Travis Biziorek:

You really like that house, huh? lol

There is another house on outer ave that I found that is gorgeous
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Vadim F.
OP
Investor · Member since 2020 · 337 posts · 213 votes
3y
@Drew Sygit it’s a foreclosure listed on the mls
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
3y
@Vadim F. must be HUD or VA Sale, which has already been foreclosed on and is just being resold.
Yes, HUD and VA give preference to owner-occupant buyers first.
After a number of days they open offers up to investors.
Just track it, so you can bid.
[email protected]248-209-6824
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