Home Auction Discount Open To Detroit School Employees
Full-time school employees in Detroit will be able to pay half-price for Land Bank-owned homes up for auction.
Mayor Mike Duggan and the Detroit Land Bank Authority say the program includes workers in city public, charter and parochial schools. They say the expansion is designed to encourage educators to invest and live in the city where they work.
Homes are up for bid on the Land Bank website. Bidding starts at $1,000.
The 50-percent discount will be applied after an employee makes a winning bid. Those that purchase homes through the auction are required to rehabilitate the homes within six months, and get the homes occupied.
Buyers also must own the homes for three years.
The discount already is offered to active Detroit municipal employees, retirees and their immediate families.