700 foreclosed Detroit homes up for auction
Published September 18th, 2007
exas auction house Hudson & Marshall will hold its largest ever auction in Detroit this weekend with nearly 700 foreclosed homes.
The three-day event will feature foreclosed homes with clean titles valued at between $5,000 to over $600,000, said Crystal Wright, a strategist for Hudson & Marshall.
The auction is Sept. 21 through Sept. 23 at the Ford Motor Co. Conference and Event Center in Dearborn.
Rising defaults on sub-prime mortgages continue to glut the nation’s over-supplied housing market with large numbers of foreclosures.
Owned by national lenders, the homes come with clean and clear titles paid for by the sellers, ensuring there are no back taxes or liens on the properties.
Bidders must register at the auction with a cashiers check for $3,000. The cashiers check will serve as their down payment.
The auction schedule is as follows: 10 a.m. Sept. 21-22 and 1 p.m. Sept. 23. To view the entire property listings, please visit www.hudsonandmarshall.com.
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