Anyone purchase from the Detroit Land Bank

[Sam Chaptini]

Has anyone purchased a home or land from the Detroit Land Bank?

I am curious how easy it was to purchase the property, and were you able to settle back taxes and update the home for what you projected? 

[Lavance Reed Jr]

Hello Sam, 

I am in the process of purchasing a home from the Detroit Land Bank. Purchasing a home is literally about the dollar amount. Use is not considered or given preference the property goes to the highest bidder. Generally the process is pretty easy. They have three options for selling their property which consist of an Auction, Own It Now, and Rehabbed and Ready categories. Generally all homes once purchased have the previous taxes wiped cleaned and the current winter or summer taxes are due at closing. Water bills are also removed for Own it Now properties (this is how I am acquiring my property) once you schedule a final meter read. They also offer the option to purchase quiet title services that will challenge other claims against the property to potentially make sure everything is clear. You have 6 months to get it repaired and occupied with possible extensions if your making measurable progress that they find sufficient. Also note the process with properties marked as dangerous buildings by BSEED. I would be happy to share my progress with you if you would like. Hope this helps even though I haven't completed the process yet!