Understanding Tax Sales
The Philadelphia Sheriff ’ s Sale Tax Lien is the process whereby private servicers seek to recover debts owed them , particularly in instances where a homeowner defaults on his tax payments . While the chief purpose of the Tax Lien Sale is to recoup back tax debts , it also provides an opportunity for individuals to bid on properties and become homeowners .
How Do I Learn Which Properties Are To Be sold ?
The properties , which are legally certified to be sold at the Tax Lien Sheriff ’ s Sale , are advertised each month in the Legal Intelligencer , and on a rotating basis in the Philadelphia Inquirer , the Philadelphia Daily News , and the Philadelphia Tribune prior to the date of the sale . The advertising also appear in community newspapers approved by the Philadelphia Sheriff ’ s Office .
How Are Properties Identified Before And During The sale ?
Each Property has an identification number ( writ Number ) which is listed before the property description and below the photos in this publication . The sale is conducted by an auctioneer who identifies each property up for auction by writ number only .
Tips For Participating In Sheriff ’ s Sales .
1 . Take A Close Look It is strongly recommended that anyone planning to bid at a Sheriff ’ s Sale make a visit to the property prior to the sale . Double check the address . Take special care to make identify any East , West , North , and South Street Directions . The same for Street , Ave ., Blvd , etc . This is a major step in avoiding the pitfall of a novice who may bid on a vacant lot thinking they were bidding on a residential structure .
2 . Talk To Neighbors The Sheriff is not authorize to permit or arrange for entry into properties so follow these steps to get a better idea of the condition of the property . ( A ) If the property is occupied , than talk to neighbors to find out if they are aware of any problems . If the property is vacant than take a closer look at the outside structure . ( B ) It is also worthwhile to obtain from the City ’ s Department Of License and Inspections ( L & I ) a list of any uncorrected code violations which L & I may have identified for the property . This information is available at L & I ’ s Permit Issuance Unit , located on the Concourse Level of the Municipal Services Building . A “ Notice of violation ” will be provided free of charge , as well as information on existing zoning , electrical or building code violations .
3 . Consider The Rehab Costs While there a “ bargains ” to be had at Sheriff ’ s Sales , potential bidders , especially those seeking residential properties , should be aware that property conditions vary greatly . It is also important to know that city loan and grant programs for income eligible owner occupants are available for Sheriff ’ s Sale properties only after the right of Redemption period has expired ( See section on the Right of the Redemptions ). The city has set this policy to ensure that its limited resources for housing improvements do not ultimately benefit original owners who reclaim their properties .
Notice Of Owners Right To Redemption
Even if you win a bid on a Tax Sale property , within nine months , the original owner can go to court and get permission to recover the property . This is done by the previous owner paying all back taxes , the money paid by the winning bidder , plus 10 percent interest to the winning bidder . This is called the Right Of Redemption and is the law . The Right of Redemption
SheriffSale Terms You Should Know Book Number ... The first four identifying number for a property that gives the year and day of its first sale date Writ Number ... The second serious of number by which the property is identified at the sale
1308-2010 four writ numbers for tax properties . 1308-352 three writ numbers for mortgage properties Postponed …... Properties will not be sold on the original scheduled date , but postponed to a later date Stayed ………. This means that the court order to sell the property has been cancelled .