Harper Woods was not having it with the Wayne County Foreclosure auction, the online real estate sale that sells tax-foreclosed properties to the highest bidder. The city itself bought the 29 homes that otherwise would have gone into the Wayne County's auction for $385,170. Then they sold them to Harper Woods Homes, a local developer. This marks the second time a city has turned over its entire stock of tax foreclosures to a single buyer. Macomb County played this game, but much bigger, when one guy took 627 properties up for tax foreclosure auction for $4.7 million.
· Developers buy every tax-foreclosed home in Harper Woods in one swoop [Curbed Detroit]
· Former Yacht Dealer That Bought 650 Macomb County Foreclosures Thinks He Can Make $2 M Off The Investment [Curbed Detroit]
· One Company Shells Out $4 M For 650 Macomb County Properties [Curbed Detroit]