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Economy

Tax-foreclosed properties go on state auction block

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More than 700 properties will be auctioned by the state of Michigan Tuesday and Wednesday. 

The state holds auctions of tax-foreclosed properties twice a year. The parcels this time are in 12 counties in Michigan's upper and lower peninsulas.

"They can be residential, commercial, some will have abandoned structures, some may not have structures at all," says Terry Stanton, a spokesman for the state Department of Treasury.

Stanton says the properties come with no guarantees, so it really is a case of buyer beware.

He says potential buyers can get basic information on the Treasury's web site or by checking with the county treasurer's office in which the property is located.

Minimum bids range from a few hundred dollars to thousands of dollars.
 

Information: www.michigan.gov/propertyforeclosures