Welcome to the latest offering from the Detroit land bank authority. 3 buildable lots in the Buffalo/Charles area on the border of Hamtramck. Sale includes 13285 and 13277 Sparling. The DLBA is seeking proposals that for small- to medium-scale infill development with the goal of increasing housing supply and restoring the urban fabric, as well as density and walkability. Interested buyers should consult our proposal guidelines for new build opportunities. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context about the neighborhood.Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.
4 months ago | Listing updated with changes from the MLS® | |
4 months ago | Status changed to Active | |
4 months ago | Listing first seen on site |
Provider and Settlement Service | Charge or Range of Charges |
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Sonic Realty LLC | 1%-6% of purchase price |
Sonic Title Agency, LLC |
Title Insurance Policy: $950 - $1706 on a $250,000 property. (Rates vary and are dependent on the state, selling price, and loan amount on the property.) Title Search Fee: $250 - $325 (where applicable) Closing Fee: $450 - $650 |
Sonic Loans Inc. This company provides various real estate mortgage loan origination activities either as a third-party originator or a mortgage broker, including loan pre-qualification, competitive bid process (when providing third-party origination services), loan origination, loan pre-approval, loan structuring, processing, and closing. |
Loan Origination Charge: 0-3 % of loan amount (may include 3rd party fees) Loan Discount Fee/points: 0.5%-6% of loan amount. Application/Processing Fee: $0.00 - $875.00 Flood and tax service: $0.00 - $95.00 Underwriting Fee: $0.00 - $1295.00 Document Review Fee: $0.00 - $400.00 Appraisal Fee: $0.00 - $850.00 Credit Report Fee: $0.00 - $135.00 Actual charges may vary according to the particular lender selected, the particular services provided, and the underlying transaction, borrower selections, etc. Some or all of these fees may be charged by third parties and/or the Member Mortgage Lender/Mortgage Broker. The Member Lenders and Mortgage Brokers have agreed to pay a fee ranging from 0.5% to 2.75% of the loan amount to Sonic Loans in connection with a range of loan origination services provided by Sonic Loans to the Member Lender/Mortgage Broker. The fees are paid either directly to Sonic Loans by the Member Lender/Mortgage Broker or billed directly to you at closing. |
Provider and Settlement Service | Charge or Range of Charges |
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Appraisal Fee | $0-$800 |
Credit Report Fee | $63-$125 |
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