Philadelphia Tax Lien Auction

[Derrick Alexis]

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?

[Ryan D.]

Originally posted by @Reda Akbil:

@Derrick Alexis if you buy it from the Auction it should free and clear. However the original owner has about 9 months to come back and claim it. Happened to me. I bought properties from Philly auction .

@Irfan Raza and I were looking a couple of months ago to find someone who had their property redeemed via the right of redemption period. Can you talk more about what the experience was like? Did you receive your full investment back + 10%? Was the property occupied when you purchased it? Cash for keys situation pop up prior to the redemption? Any insights you can share would be great.