Buying & Selling Real Estate Discussion

User Stats

38
Posts
2
Votes
Derrick Alexis
  • Rental Property Investor
  • Philadelphia, PA
2
Votes |
38
Posts

Philadelphia Tax Lien Auction

Derrick Alexis
  • Rental Property Investor
  • Philadelphia, PA
Posted Sep 29 2019, 20:01

Hey BP community,

I’m contemplating purchasing my first buy & hold property and see it’s on the auction list. I was wondering if anyone has experience with Philly tax auctions? Are these properties being sold with the debt attached to it or is the sold amount at the auction what’s needed to clear the property?

For instance, if I purchase a property at the auction that has $5K in back taxes for $6.5K, am I assuming the debt as well?

Loading replies...