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AUCTION ID #: 551960 Bookmark and Share
12542 Wade Street, Detroit MI 48213~ $1 NO RESERVE!
Item 551960  
Winning Bid: USD $311
Number of Bids: 4
Winner: sediji
Reserve: No Reserve!
Status: Sold
Auction Started: 05-23-12    03:00 PM ET
Auction Closed: 05-30-12    03:00 PM ET
Asset Details
Seller Information
Seller Name: DirectProperties
Rating: Seller Rating - 4.5 (33)
Location: 12542 Wade Street
Detroit, MI    48213
View Seller's other items
Bid Increment: $100
Minimum Bid: $1
Auction Type: Regular Auction
Source: Private Auction
Deposit Required: $0
Overtime Period: 5 min
Buyer's Premium: 10.0%
Page Views:
Asset was Sold
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Item Specifics
Residential Properties  
  Address 12542 Wade Street
Detroit, MI 48213
United States
  County wayne
  Number Of Bedrooms 4.00
  Number Of Bathrooms 2.00
  Display Maps Yes

Asset Description
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12542 Wade Street, Detroit MI 48213~ $1 NO RESERVE!
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Item Description

You are bidding on a Single-Family Property located at:


12542 Wade Street, Detroit MI 48213


Four Bedroom - Two Full Baths

SqFt 1,282

Partially Finished Basement, and Detached Garage

Family Neighborhood

Zillow Estimate $35,600


Payment Details

$1,000 non-refundable deposit is due within 48 hours; full payment is due within 4 days. A $500 closing cost fee, deed processing fee and recording fee will be charged to the buyer, as well as a 10% buyer's premium with a $100 minimum.

Example of Transaction Costs:

Winning Bid: $3,000

Buyers Premium:$300 (10% of the winning bid or a minimum of $100)

Closing Costs: $500

Total due: $3,800






Additional Information

****Please Read Before Bidding***

Please make sure to do your own due diligence before bidding.

Any and all tax and lien information must be verified by the bidder before bidding using the address/ parcel number and the county which we furnish with each listing. Accordingly, buyer is willing to purchase they properties from seller without any representations or warranties, express or implied and on an “As Is, Where Is” and “With All Faults” basis. Buyer is also responsible for all back taxes owed, assessments, liens, or encumbrances.

For the most accurate and up to date information please contact the municipality. These properties are purchased in bulk, sight unseen by Direct Properties and consequently we are unable to provide any information pertaining to the condition or rehab work that may be required.

A Quitclaim deed will be prepared and transferred by the seller to the Register of Deeds for recording within 45 days of receipt of good funds and completion of the necessary paperwork from buyer. Payment may be made by wire transfer or certified funds.

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Maps & Area Information

Additional Details
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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
  • Wire Transfer