Buying properties at tax auction in Michigan

Rental Property Investor · Waterford, MI · Member since 2023 · 30 posts · 4 votes

I'm looking for some advice on purchasing properties at tax auction in Michigan. What issues should I be aware of? I've never participated in an on line property auction and I'm very curious. Any advice is appreciated!

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Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
3y
Just don't overpay.
Have gotten properties at auctions several times, when the initial winner defaulted.
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Real Estate Agent · Auburn Hills, MI · Member since 2022 · 45 posts · 67 votes
3y
Auctions are a lot of fun! Most times you get a Quit Claim Deed (QCD). Do as much due diligence as you can before buying.
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Kenneth JenkinsBusiness Member
Member since 2023 · 54 posts · 40 votes
3y
Quote from @Kim Frantum:

I'm looking for some advice on purchasing properties at tax auction in Michigan. What issues should I be aware of? I've never participated in an on line property auction and I'm very curious. Any advice is appreciated!

Don’t use intermediaries in Detroit for this. Always buy online directly. There are many scams where people claim they can get access prior to the auction date. That’s not true.

Second, make certain you have a realistic plan for what to do with the property post closing.
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