Item Specifics
 
Residential Properties  
  Address 19767 Dresden St.
Detroit, MI 48205 
United States
  Number Of Bedrooms 3.00
  Number Of Bathrooms 2.00
  Display Maps Yes

Asset Description
19767 Dresden St, Detroit, MI
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Description

A Gorgeous Home with Great Curb Appeal! Would make an Excellent Rental Property! Zillow value of $63,000 in 2011 - with housing prices at an All Time Low, there will never be a better time to buy than Now! Don't Miss This Opportunity!!

 

Highlights

- Great Curb Appeal!

- Zillow $63,000 in 2011!

- Family Neighborhood

 
 



WHY INVEST IN DETROIT?

Whether you're an experienced investor or a real estate rookie, see why the media and analysts are raving about Detroit real estate.

  • Own a piece of the Comeback City that is being called the "Hottest U.S. Housing Market for Q2 2012" by the editor of Investorplace.com, and ranked"2ND BEST CITY TO BUY RENTAL PROPERTY" [CNN Money 2012]
  • Helped by the auto industry recovery, Detroit unemployment rates have dropped by 2.4 % over 12 months [CNN Money 2012]
  • The number of single family homes sold in July 2012 increased by 14 percentcompared to July 2011, according to the Michigan Association of Realtors[CBS News 2012]
  • DONALD TRUMP sees Detroit as a good investment. "I think Detroit has great potential". [May 1st, 2013]
  • Rents are projected to climb to $720/month and vacancies will decrease to 4.5%, which is on par with the national average for metropolitan areas [Wall Street Journal 2012]
  • While the nationwide average for home price increase rose 7.3% in 2012,Detroit's year-over-year gains were 16.7%. Impeccable figures such as three-year home price gains through 2012 highlight, Detroit's 30.0% increase, the top in the nation. [Case-Shiller index report for Q4 2012 by Corelogic]

There are so many possibilities! By purchasing at such a low price, you have many options available to you, such as:

  • Flip it for quick cash to another investor!
  • Flip it for quick cash to a local handyman!
  • Renovate it and rent it out for cashflow!
    Cash Flow

*The Estimated Rent for this property is 

$750.00!

IF YOU ARE LOOKING TO REHAB AND RENT THIS PROPERTY, HERE IS AN EXAMPLE OF THE CASH FLOW YOU COULD POTENTIALLY MAKE:  PLEASE NOTE, THESE ARE ESTIMATED FIGURES AND IN NO WAY REPRESENT THIS ACTUAL PROPERTY.

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Additional Information

This auction is for the FULL PURCHASE PRICE OF THIS PROPERTY. A Quitclaim Deed will be issued.

The Seller offers these assets for sale in "AS IS" CONDITION AT THE TIME OF SALE OR CLOSING, INCLUDING ANY HIDDEN DEFECTS OF ANY NATURE, KNOWN OR UNKNOWN, with no representations, warranties or guarantees whatsoever, express or implied, relating to the condition of these assets. Property information, including photos, may be taken from county records, and / or other online data providers. Such information is not necessarily verified by the seller, and may not be the most current information for the property – it is the bidder’s responsibility to complete all due diligence, including inspections, prior to bidding. Images may be edited / enhanced for visual appeal. In some cases, information such as square footage and number of bedrooms may be approximate.

We accept Bank Wire Transfers, and direct deposit (via teller in branch - Chase Bank) for the payment of your winning bid.

THIS IS A FINAL and CASH ONLY SALE. NO SELLER FINANCING.

Following are the steps required to complete this transaction:

1. If you are the winning bidder, you will be required to send payment of 20% of the closing price within 1 day after the close of auction, through bank wire transfer, or through direct deposit at a Chase Bank. Payment instructions, along with a purchase agreement, will be sent via email, shortly after auction close.

2. Remaining balance + $495 (closing costs) + bid4assets fees, is due within 3 days of auction close. Once full payment, and signed purchase agreement are received, deed processing can begin.

 
 
 



Additional Details
For more information about this asset including photos, specs and more (when available), click here.


PLEASE READ CAREFULLY- Bid4Assets Real Estate Buyer Responsibilities

Some sellers buy large "pools" of under-valued properties from banks. The seller may not inspect every property prior to sale. The seller represents these properties to the best of their knowledge. In some rare cases, property may have severe damage or be subject to county/city orders not described in the auction. It is highly recommended that interested bidders arrange for an external inspection personally or through a designate and that they contact the county or city in which the property is located to confirm the status of the property.

Bid4Assets reminds all potential real estate bidders that it is your responsibility to complete all due diligence needed to determine the condition, market value, or investment value of this asset prior to placing a bid. Necessary due diligence items may include, but are not limited to,

  • A satisfactory inspection of the property
  • Completion of a title search
  • Investigating back property taxes and
  • Other - liens and encumbrances such as unpaid utility bills.

 

By placing a bid, you acknowledge that any statements made by the seller about the condition or market value of the property are subjective, and do not release you from your responsibility to perform due diligence. Please contact Bid4Assets if you believe that a seller is intentionally misrepresenting a property in their auction.
Settlement Requirements
  • This auction requires that the winning bidder pay a Buyer's Premium of 10.00% of the winning bid amount. (The Buyer's Premium covers the costs associated with the auction). This amount will be added to the winning bid and will be included in the total purchase price paid by the Buyer to the Seller.
Payment Type
  • Certified/Cashier's Check
  • Wire Transfer