MINIMUM BID PRICE
At the first 2023 Public Land Sale Auction held on Tuesday, September 12, 2023, no sales will be made for less than the minimum bid price indicated. “Minimum b id” is defined in MCL 211.78m (11) as “the minimum amount established by the foreclosing governmental unit for which property may be sold under this section. The minimum bid shall include all of the following: (a) All delinquent taxes, interest, penalties, and fees due on the property and, (b) the expenses of administering sale of the property , including all preparations for the sale.” At the second 2023 Public Land Sale Auction held on Tuesday, October 17, 2023, the Treasurer as the foreclosing governmental unit will establish a reasonable opening bid at the sale to recover the sale cost of the parcel or parcels as provided by law, including, where applicable, a performance bond to facilitate and guarantee compliance with any existing demolition order.
BIDDING
Any registered person may bid on the properties offered. A bidder must display a b idder’s card to bid. A person unable to attend the sale can be represented at the sale by an agent or representative with legal authority to bind and otherwise represent the person. The registered bidder is legally and financially responsible for all parcels bid upon whether representing oneself or acting as a representative. All parcels in a given bid item will be sold as one unit. The sale will be awarded to the individual bidding the highest amount equal to or greater than the starting bid for the bid item in question. In the event the parcels are not sold at the September sale they will be offered for sale at the subsequent, second 2023 Public Land Sale Auction. The Treasurer reserves the right to change the bid item numbers, as well as the contents of any bid item at the second Public Land Sale Auction. Bids will be accepted in increments established and announced by the auctioneer starting with the minimum bid. A bid accepted at public auction is a legal and binding contract to purchase. No sealed bids will be accepted and the Treasurer reserves the right to reject or accept any or all bids.
TERMS OF THE SALE
[FULL PAYMENT] plus a ten percent (10%) buyer’s premium, and a $59.00 processing fee must be paid by 2:00 P.M. the day of sale. After the $1,000 in certified funds (cash or certified check), a personal check will be accepted for the balance due. In the event personal checks do not clear within fourteen (14) days, the deposit paid on the day of the Land Sale Auction will be forfeited to the Treasurer.
5
ECT09082017 (REV. 06-16-2023)
Made with FlippingBook - Online Brochure Maker