Foreclosure List for 2021 Foreclosures of 2018 and prior taxes
Process Schedule, all relevant documents linked below.
- Purchase Proposal Form
- Name
- Address (and proof – see form)
- Phone
- Proof of funds Included/attached: Recent Bank Statement, Bank Letter of Credit or Guarantee, Cashiers Check for full amount
- Acknowledgement of Terms
- Terms List – Overview
- Limitations: Muskegon Heights Residency; 1 Proposal Permitted per Person unless Cashiers Check Provided w/Proposal
- Total Funds Required for purchase
- $ Amount Proposed (minimum of amount paid to County)
- $ Prepayment of 3 Years future estimated taxes (based on estimated current unimproved value – see col 1 prop List)
- Note: if and when property is improved, actual tax assessment may be higher than estimated amounts
- Note: if actual tax assessment amount is higher than estimate then any balance not covered by prepayment will be owed by buyer.
- $ Admin/Processing Fees
- Must show proof of the Total Funds Required for the Purchase WHEN submitting the proposal form
- Recent Bank Statement, Bank Letter of Credit or Guarantee, Cashiers Check for full amount
- Must make request and payment for sales inspection within 14 days of EPT
- Must perform cleanup of property and secure structure within 30 days of execution of purchase transaction (EPT)
- Must, per Building Offical direction, adequately address exterior property deficiencies to site and structure within 60 days of EPT
- $45/day fine for failure to complete, unless extension granted
- Commitment to maintain property during rehab according to terms
- Commitment that property will be Owner Occupied and NOT a Rental (minimum 5 years from C.O.)
- Commitment to use local labor and materials when/where possible
- Commitment to do or engage a Reaching New Heights – local home buyer incentives programs :
- Down Payment Assistance
- Credit Repair
- New Owner Mentorship (1 to 3 yrs)
- Execute Legal Documents
- Quit Claim Deed to City (in case of default)
- Power of Attorney (in case of default)
