TERMS OF THE SALE [FULL PAYMENT] plus a ten percent (10%) buyer’s premium, and a $59.00 processing fee¹ must be paid by 8:00 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. The purchase price consists of the final bid price, a ten percent (10%) auctioneer fee , and a $59.00 per parcel deed preparation fee. Where applicable, a performance bond to facilitate and guarantee compliance with any existing demolition order will be included. The balance of the purchase price may be paid for by any negotiable instrument, including personal or business check, money orders and traveler’s checks. The Treasurer may prosecute or sue any purchaser who delivers a check with insufficient funds or fails to consummate a purchase. Bidders who fail to consummate any purchase will forfeit all monies paid and will also be banned from bidding in ALL future Eaton County Treasurer’s Land Sale Auctions. Checks should be made payable to “Bippus USA.com” Pursuant to MCL 211.78m(2), the Treasurer reserves the right to cancel ANY sale, on ANY parcel, at ANY time, including up to the time of execution and delivery of the deed. PURCHASE RECEIPTS Successful bidders at the sale will be issued a receipt for their purchases upon payment. TITLE CONVEYANCE A Quit Claim deed pursuant to PA 123 of 1999, conveying fee simple title and, drafted with the name(s) as entered on the registration, will be recorded by the Eaton County Treasurer’s Office with the Eaton County Register of Deeds’ Office within thirty (30) days from the date of the sale. The Quit Claim deed will contain and be subject to the following reverter clause: Right of Reverter The following right of reverter will run with the land: If the purchaser(s) allow the property to go into forfeiture for unpaid delinquent real property taxes, as described in the Public Land Sale Rules acknowledged by the Purchaser(s), for a minimum period of five (5) years from the date hereof, and if the Property is allowed to be forfeited for unpaid delinquent real property taxes in violation of this restriction, then the property shall automatically revert to Grantor in fee simple title. This right of reverter only applies to the original purchaser(s), or their affiliates who acquire title directly from the purchaser, who receive title directly from the Eaton County Treasurer and does not apply to any subsequent genuine purchasers.
¹ For example, a property purchased for $25,000.00; the amount paid on the day of the Land Sale Auction is calculated on the basis of a $25,000.00 bid price, plus $2,500.00 auctioneer fee, and $59.00 for recording the deed. The total cost of the property to the purchaser would be $27,559.00 due by 8:00 P.M. the day of sale.
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