Philadelphia, PA · Member since 2016 · 5 posts · 0 votes
Hello! Can someone give me tips to buy at the sheriff sale in Philly? Is it true that the house will be clear of liens once bought? Help! I am originally from Italy and I am moving to Philadelphia and wanted to buy a house for me and one for my mom.
I would suggest you first look up the listing on the city website, phila.gov. Then ride pass each address and see if they are occupied. If they are, you will have to go through a longer process of filing evictions. I would highly suggest you get a property that is empty. Go to the properties, look into the windows, and all around the homes. A lot will need extraneous work as people literally destroy them just because. But yes, they will be free and clear once purchased.
thank you Brianna! I was worried because someone told me that only the tax sales are lien free and the mortgage sale can have a second mortgage on it that I would responsible of. How is the eviction process in Philly...we saw a house we loved but there are tenants in it...
Hi @Cristiana Mack the best thing you can do is go to the seminar. They give a lot of information there. I bought my first investment property from the tax sale in 2012 and because of 1 misstep I was stuck with a $2,000 water bill. Be careful.
If you buy from the tax sale you won't be able to get mortgage insurance on the property right away. The original owner has 9 months to pay back tax liens, amount you paid, any improvements, plus 10%. I think this rarely happens but you never know. With the mortgage sale this is not the case. As Donnell said I would recommend you go to the free seminar the sherrif office holds every month. You will get a lot of great info there. I think they even have a educational video on the Philly sherrif sale website.