Mystery Bidder Offers $3 Million for 6,000 of Detroit's Foreclosures

Mystery Bidder Offers $3 Million for 6,000 of Detroit's Foreclosures

0a14b8de7ba631b963ff91804092c04eef4a504f?auto=compress&w=240&h=240&fit=crop
Tara Bellucci
Oct 28, 2014
(Image credit: Wayne County Treasurer’s Office)

What does $3.2 million get you where you live? In Wayne County, Michigan, it's the bid for 6,000 foreclosed properties. An unidentified bidder is prepared to pay $500 (the minimum opening bid) for each of the homes in the "blight bundle." It will likely cost the winning bidder a small fortune beyond the bid to manage the homes.

A Mystery Bidder Offers $3 Million for 6,000 of Detroit's Worst Homes | Bloomberg Businessweek

Created with Sketch.