Where can I get the most up-to-date information on Michigan foreclosure sales?
To obtain information about foreclosure sales, please visit the relevant website or contact the County directly. Please also see the attached contact list.
Verify all information pertaining to foreclosure sales with the appropriate County. The Foreclosure Sale FAQs listed below were not created in collaboration with the County. These FAQs are provided solely for educational or informational purposes; they are not meant to be a substitute for professional advice, whether legal, real estate, or otherwise. The provided information is subject to change. Please use the county-specific links and contact information provided for the most recent, up-to-date information on foreclosure sales. To fully understand the foreclosure process and foreclosure sales, prospective bidders should seek professional advice, carefully review the County’s Terms of Sale, and contact the County.
What is the process of a foreclosure sale in Michigan?
A foreclosure sale is held in the form of a public auction that is open to all bidders. At the event, the property is either sold to a third-party bidder or reverts to the beneficiary (Mortgagee, Bank, or Lender) as a Real Estate Owned (REO) Foreclosure. Please contact the appropriate County to obtain a copy of the bidding rules and to thoroughly review the sale process.
When and where do foreclosure sales take place?
The time and location of foreclosure sales vary by county. For specific information, please visit the appropriate county website or contact the county directly.
What should I bring to the foreclosure auction?
At the time of sale, most counties require funds to be paid in cash, bank money order, or certified check. Personal checks, business checks, letters of credit, and credit cards may not be accepted. For specific information, visit the appropriate county website or contact the county directly.
What happens if a Property is canceled or rescheduled?
A property sale may be canceled or postponed for a variety of reasons prior to the start of bidding at the sale. There is no guarantee that a specific Property will be put up for sale. For specific information, please refer to any foreclosure notices or contact the County or Foreclosure Sale Agent directly.
Is the property free and clear of any liens?
Usually, no. Many properties will be sold “as-is, where-is,” with all flaws and limitations. All prospective bidders are encouraged to conduct their own due diligence and investigate all aspects of the Properties they wish to purchase. Prior to the sale, it is recommended that you seek independent advice to perform your due diligence and fully understand the foreclosure process and foreclosure sales in general. It pays to do your homework! Prior to the sale, it is your responsibility to conduct a title search and seek any necessary legal advice. For specific Property and title information, please visit the appropriate county website or contact the county directly.
Is it possible for me to inspect the property?
No, because these properties can be occupied, prospective bidders are not permitted to trespass on the property, disturb the occupants, or contact the borrowers for information about the property.
Will I be given a sale deed?
In most cases, the winning bidder will receive a mortgage deed after the sale is completed. For specific deed information, please visit the appropriate county website or contact the county directly.
Is there a foreclosure redemption period in Michigan?
Normally, True. A redemption period may be imposed, which may vary depending on various factors. The borrower may be able to redeem the premises during a redemption period. Please consult your real estate attorney or the County or Foreclosure Sale Agent for specific information on any possible redemption period imposed in Michigan.