Up to a 50% discount on the amount for Auction properties sold by the Detroit Land Bank Authority is available to all eligible employees, contractual employees, retirees and their immediate family members of the City of Detroit and all participating affiliated governmental agencies and authorities.
Eligible Bidders include:
Participating affiliated governmental agencies and authorities include:
* Legal Guardians refers to instances where an employee was appointed legal guardianship of an individual, who at the time was a minor (i.e. raised a nephew or niece) or where the employee was in the legal guardianship of the individual (i.e. employee was raised by his/her grandparent). The Detroit Land Bank Authority can only enter into contracts with individuals that have the legal capacity to enter into binding agreements. The Detroit Land Bank Authority cannot enter into contracts with or on the behalf of individuals that have been adjudged by a court to be an incapacitated individual or a person who is under the legal age of competence.
PLEASE NOTICE: All Employee Discount Purchasers must be verified by the appropriate Human Resource Department prior to bidding in order to use the discount. You will receive an email stating that your discount has been approved or rejected by your HR representative within three business days of registering for an employee discount on buildingdetroit.org.
The discount will be applied at closing on the sale of the property. Your card will automatically be charged $1,000 upon winning the bid, regardless of any discount. For example, if you win a bid at $2,000, your credit card will automatically be charged $1,000. Please see details about Auction closing costs here.
All Employee Discount sales will be bound to a three-year ownership requirement. In the event that the Employee Discount Purchaser sells the property in less than 3 years, buyer must pay to the Detroit Land Bank Authority a percentage of the profits* realized in that sale, as follows:
*Profits is defined as (i) the sale price at which the Employee Discount Purchaser sold the property, minus (ii) the discounted price paid to the Detroit Land Bank Authority for the original purchase, minus (iii) the documented expenses incurred in rehabbing the property.
The following requirements apply to all sales of properties to Employee Discount Purchasers:
The property must be purchased by an individual and cannot be purchased by a corporation, limited liability company, joint venture, or other legal entity. The property may be transferred to a single member limited liability company only after the rehab requirements and a rental inspection has been completed.
One discount will be given per registered discount bidder, until the three-year ownership requirement has been fulfilled.
City of Detroit and Participating Affiliated Governmental Agencies and Authorities HR Contact Information
*See list of City of Detroit departments below
*City of Detroit Departments: