6124 W Madison St, West Allis

Tax Foreclosure Property Sale

Address of Residential Property: 6124 W Madison St – West Allis, WI

Appraised Value: **$130,000**

Milwaukee County tax foreclosed properties are foreclosed on and offered for sale pursuant to Wis. Stat. ch. 75. The Department of Administrative Services – Economic Development Division is responsible for selling the County's tax foreclosed properties.

All bids shall be submitted on an *Offer to Purchase* form furnished by the Economic Development Division. All offers must clearly show the interested buyers name and be manually signed by the party making the offer. Offers in the name of an LLC are acceptable as long as the members of the LLC are clearly identified on the signature line or elsewhere in the offer. Unsigned offers shall be rejected by the Director and returned to the bidder.

The successful bidder agrees that:

• The property is sold as-is, with respect to all property conditions, via a quit claim deed, with no title insurance, or warranties of any kind whatsoever;
• The property may have lead paint or other environmental contaminants;
• The property is subject to all easements, zoning, and other applicable government regulations; and
• They waive all rights to rescind the purchase.

The successful bidder understand that they are responsible for paying:

• One hundred percent of the sale year property taxes, there is no pro-rating;
• A brokerage fee of no more than the greater of two percent or $1,000; and
• Recording costs.

Upon closing, the successful bidder may be responsible for any or all of the following costs:

• Municipal fees and charges;
• Removal and disposal of personal property;
• Delinquent utilities;
• Costs associated with any sought or required zoning changes;
• Repairs required to fix defects and bring the property into compliance with applicable codes; and
• Outstanding condominium and/or home owners association fees and dues.

Successful bidder agrees to enter into contract/agreement with Milwaukee County for the sale of the Property and must be able to close within thirty (30) days of signed acceptance of offer.

Submission

All bids must be submitted by the deadline specified. Electronic Submission (Preferred): Upload your bid via the Milwaukee County Bonfire portal at https://countymilwaukee.bonfirehub.com/opportunities/261157. Hand Delivery: you may deliver a sealed hard copy of your bid to the Milwaukee County Clerk, 901 North 9th Street Room 105, Milwaukee, Wisconsin 53233. Late submissions via either method will not be accepted.

Bid Award

Award shall be made to the bid most advantageous to the County, conforming to the invitation for bids. At the first attempt to sell the property, the County must reject every bid less than the appraised value of the property. The winning bidder must be prepared to close within 30 days. If a bidder requires a financing contingency, bidder must include a valid pre-approval letter from a financial institution acceptable to the Division.

Scoring Criteria

• Bid Amount: Bids must meet or exceed the appraised value of the property. Higher bids will score more favorably.
• Intended Use of the Property
• Bidder Qualifications
• Owner-Occupant Status
• First-Time Homebuyer Status

Showings

Aligned Showings (Preferred Method-Available to Licensed Buyer's Agents Only). If you are not working with a buyer's agent you can contact Emily Streff directly to find a suitable time to view the property via phone call or text: 414-897-2384.