When you buy in the Wayne County tax auction, your property might just come along with a resident. In some cases these will be the former owners who lost the property to foreclosure, but it also happens that residents of tax auction properties are renters who don't know that their landlord has lost the property. They can also be squatters who have moved on vacant and abandoned real estate. In any case, the first round of the Wayne County tax auction which ended this week saw 297 occupied properties sold.
The first round of the foreclosure auction ended on September 25th with 946 properties sold total. That brought in $23 million. The 297 occupied properties brought in $6.5 million combined, which is an average of $21K per property. According to LOVELAND, nearly all of the occupied homes are single family homes.
· Occupied Auction Properties [WDWOT]