Have you been contemplating buying real estate property in Detroit, Michigan? In Detroit, when properties fall 3 years behind on tax payments they are sent to foreclosure. First, the city tries to sell them for the amount of back taxes owed, and then for a starting price of $500 in a traditional auction. Beginning May 1, 2014, the website buildingdetroit.org will auction one home per day with a starting bid of $1,000.
