Day 2: Washtenaw County tax foreclosure auction yields 2 sales
Eight houses crossed Washtenaw County's online auction block in tax foreclosure sales that ended this afternoon.
Two of the eight sold, generating a total of $35,987.
Those properties were:
â€¢ 2 Faust Court in Ann Arbor, which sold for $24,056 — the minimum bid. The house was fire-damaged, but city officials have recommended it for restoration.
â€¢ 625 Fox in Ypsilanti Township, which sold for $11,931, also the minimum bid.
The sixth unsold home was 795 Lamay Ave. in Ypsilanti Township.
The bidding opened on Tuesday on Bid4Assets.com, the online auction company hired by Washtenaw County Treasurer Catherine McClary to conduct the sales.
Properties were offered this week in three batches: vacant land, which ended Wednesday; today's residential property; and commercial property, which ends tomorrow.
Another round of auctions begins Sept. 21 with three high-profile investor properties.
The number of properties heading to tax foreclosure auction this year was the highest ever, McClary has said.
The tax foreclosures results from non-payment of property taxes dating back to 2007. The tax debt takes priority over even a bank foreclosure for non-payment of a mortgage loan.
Of the commercial properties in the auctions that end Friday, only one has a bid: The closed gas station at Platt and Packard. The price has risen to $176,000 in 43 bids, up from $125,000 a day ago.