Tax Lien Sale Philadelphia

8 Replies

Hello group.  

I was wondering if anyone with experience with the Tax Lien Sale in Philadelphia would share their experience, the good and the bad.  From what I am reading it can be a good investment opportunity even if you do not take title to the property with 10% return on funds and possible additional expenses.   However, what you read and what actually happens can be two different things.  I am planning on attending the Sheriff sale happening February 21.

Thanks in advance.

its been a while sense I've attended a sheriff sale. from what I've heard the rules have changed quite a bit. the reason I don't bother with that source is because the state liens come with the property as well as the best properties aren't vacant at the time of sale which means chances of the owner(s) being able to redeem the property is pretty high. my coin.

Kudos,

Mary

I was at a Philadelphia tax lien auction maybe about couple months ago and it can be a good way to buy properties. I had couple family members buy from these auctions and they didn’t have any issues with titles etc.

But obviously you have to be aware and do your research extensively to not end up with a lemon property ( trust me there are plenty). I didn’t like it last time I was there because the properties were being bidded up too high for my taste, (some near retail). 

And for those prices I can go on the MLS deal with the known instead of the unknown.

Good luck Calvin,

Originally posted by @Mary B. :

its been a while sense I've attended a sheriff sale. from what I've heard the rules have changed quite a bit. the reason I don't bother with that source is because the state liens come with the property as well as the best properties aren't vacant at the time of sale which means chances of the owner(s) being able to redeem the property is pretty high. my coin.

Kudos,

Mary

Thanks for the info.

Originally posted by @Ricardo Fuller :

I was at a Philadelphia tax lien auction maybe about couple months ago and it can be a good way to buy properties. I had couple family members buy from these auctions and they didn’t have any issues with titles etc.

But obviously you have to be aware and do your research extensively to not end up with a lemon property ( trust me there are plenty). I didn’t like it last time I was there because the properties were being bidded up too high for my taste, (some near retail). 

And for those prices I can go on the MLS deal with the known instead of the unknown.

Good luck Calvin,

 
Thanks for the insight Ricardo.

Your comments are spot on. Research is important,  too  often not done, to avoid what can be avoided.  

Your family that purchased what was their goal?  I am looking for something to buy and hold for a few years.

So the family member that bought from the auction bought three properties last time they went with average price around 15k - 20k. But they are a buy and hold investor that uses the brrr strategy and buys mainly for cash flow. 

Also Calvin I don’t know if you know but there are books you can buy in advance for auction at about $10 each... you can go on the website to see the properties being sold but the books are good to have because it organizes everything in order and has property info.

Pm me if you need any more help.

My friend JR prints that book.

Too many questions and answers to reply here. You can email or message me for direct answers or search forums for more answers.

I attend that sale which is actually 3 days

Thanks for the reply David.  If you can share a link for the book that would be great.  I looked online and I got zero hits.

Thanks for the feedback.  I was able to attend 2 tax lien sales in Philadelphia.  I also scouted out some of the areas in advance of both sales.  The process was interesting to see in action.   Sadly, the properties and areas I most interested in did not come up for one reason or another.  My lack of familiarity did not lend itself to seek other opportunities during the auction event itself.    

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