TAX FORECLOSED EATON COUNTY PROPERTIES GO TO PUBLIC AUCTION
The first of two State tax-foreclosed real property auctions, to include 49 parcels in Eaton County, will take place on Wednesday, August 14 at the Ramada Lansing Hotel & Conference Center at 7501 W. Saginaw Highway in Lansing. Bidder registration begins at 9:00 a.m. with the auction to follow at 10:00 a.m. Parcels offered at the auction have been foreclosed by the State because of delinquent property taxes, and may include open land, vacant or occupied residential homes, commercial lots, or abandoned structures. A catalog of properties listed by parcel number and legal description can be accessed at the county treasurer’s website at www.eatoncountytreasurer.org. The sale will be held according to the provisions of Public Act 206 of 1893 – MCL 211.787(m).
Because these parcels have been tax foreclosed, the rights of former owners of interest, including taxpayers, mortgage companies, and banks have been extinguished. Easements, right of way deeds, IRS liens, and environmental restrictions, however, survive the foreclosure process. Special assessments levied up to the year of the auction are also included in the minimum bids. Bidders should contact city or township offices where the property is located to determine if there are any assessments for future tax years on properties being offered, and investigate the circumstances of each property. Interested buyers should read auction Rules and Regulations available for download at http://www.michigan.gov/documents/taxes/RulesandRegs_314661_7.pdf. A Bidder Registration, Form 4204, can also be downloaded from the Department of Treasury website at http://www.michigan.gov/documents/taxes/4204_314539_7.pdf. Links to these documents are also available at the Eaton County treasurer’s website.
Auction bidding is open to anyone age 18 and up with a valid I.D. Parcels are sold to the highest verbal bidder. Individuals can attend the auction in person or send a representative as agent to act on their behalf. The full purchase price must be paid the day of the auction. It is important to note the State only accepts cash or cashier’s checks for payment on parcels which, including fees, total $1,000 or less. Purchases of $1,000 or more must be paid by cashier’s check. Personal checks, business checks, money orders, or credit cards are not accepted. The authorized amount for onsite State refund checks is limited, so large-amount bidders are encouraged to arrange for multiple pre-issued cashier’s checks, each limited to $20,000 or less. Properties that don’t sell on August 14 with a minimum bid equal to the amount of taxes, interest, and fees due are subject to a second auction with no minimum bid sometime before the first Tuesday in November
“Buyers will find good great deals on properties at auction, but caution should be taken before placing an offer” said County Treasurer, Bob Robinson. “Bidders should thoroughly research and understand the use of the land for their intended purpose, and make sure to pre-inspect the property to determine if it will be suitable. The State of Michigan will not make any representations or claims as to the fitness for purpose, conditions, covenants, or restrictions on the property.”
For more information about the Tax-foreclosed Real Property Auction on Eaton County properties on August 14 in Lansing, go to the Eaton County treasurer’s website at www.eatoncountytreasurer.org and click on the 2013 Tax-Foreclosed Real Property Parcel Listings link in the center of the page.
This release does not substitute for the Department of Treasury’s Rules and Regulations for tax foreclosed real property auctions. All rules regarding tax-foreclosed property auctions should be reviewed thoroughly and are subject to change. Listed properties are subject to change without notice.