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Vacant detroit homes to go on auction

  • Detroit plans on putting 15 empty homes up for auction in order to revitalize its neighborhoods. Bids start only at $1k and one house will be sold each day. The city will divert its attention on a new neighborhood when the batch goes. 

    "People have walked away from great homes in their neighborhood because they thought their block had no future," the city council president said. "Well, they left too soon."

    CNN Money notes that buyers will be asked to prove to Detroit that they are serious and have someone living in their house within half a year or they could lose both the house and their money. 

    "We are not looking for speculators," an official said. 

    http://www.detroitnews.com/article/20140414/METRO01/304140089/Detroit-auction-site-launches-15-houses

    Tagged as: detroit homes, detroit revitalization, detroit bankruptcy, money news, business news