May 6 Mortage 2014 May 6 2014 Mortg Guide vol 1 | Page 2

Philadelphia Sheriff’s Office Conditions of Sale

Ten percent of the highest bid for each property auctioned off shall be deposited in certified check, attorney’s
check or money order with the Sheriff by each bidder when his bid is registered, provided that in no case shall
less than Five Hundred Dollars ($500.00) be deposited, otherwise upon failure or refusal to make immediately offered again and sold unless a second bid has been registered, then, the second bidder will take the property at
the highest bid price.
BIDDING CONDITIONS FOR THE SHERIFF’S SALE
From the opening bid to 20,000.00 you must bid $100.00 more than the previous bid.
From the $20,000.00 to $50,000.00 you must bid $500.00 more than the previous bid.
From $50,000.00 to $100,000.00 you must bid $1,000.00 more than the previous bid.
And from $100,000.00 and above you must bid $5,000.00 more than the previous bid.
The balance of the purchase money must be deposited in certified check, attorney’s check or money order together with a certification from the Department of Revenue for execution by the highest bidder to the Sheriff
at his office within 30 days from the date of the sale. An extension of time for an additional 30 days may be
granted at the discretion of the Sheriff upon receipt of written request from the buyer requesting the same, except
when a second bidder has been duly registered. Also, if the first bidder does not complete settlement with the
Sheriff within the thirty (30) day time limit and a second bid was registered at the sale, the second bidder shall be
granted the same thirty (30) day time limit to make settlement with the Sheriff on his second bid. Thereafter, the
Sheriff shall be at liberty to return the writ to the courts and the sale of said property will ne marked as “Term of
Sale not Complied”
A second bid must be registered on any property immediately after it is sold. The second bidder must
present the same amount of deposit that the highest bidder delivers to the Sheriff at the sale. An extension of
time under no circumstances will be granted or honored by the Sheriff whenever a second bid is registered on a
property at the sale.
The first bid or opening bid on each property shall be a sum sufficient to pay all Sheriff’s costs in addition to the amount of the original tax lien. If there is no other bid price above the opening bid price, the property
shall be sold by the auctioneer to the attorney on the writ at that price.
No personal checks, drafts or promises to pay will be accepted in lieu of certified checks, attorney’s
checks or money orders made payable to the Sheriff of Philadelphia County.
The Sheriff reserves the right to grant further extensions of time to settle and further reserved the right to
refuse bids from bidders who have failed to enter deposited on their bids, failed to make settlement, or make
fraudulent bids, or any other behavior which causes disruption of the Sheriff Sale. Said bidders shall be so refused for the sale in which said behavior occurred and for said further period of time as the Sheriff in his discretion shall determine.
The Sheriff will not acknowledge a deed to any individual or entity using an unregistered fictitious name
and may, at his discretion, require proof of identity of the purchaser or the registration of fictitious names. The
bid of an unregistered fictitious name shall be forfeited as if the bidder failed to meet the terms of sale.
All bidders are advised to remain at the sale until after the last property is sold. The Sheriff reserves the
right to re-sell any property at any time before the end of the sale, upon the successful bidder’s failure to tender
the required deposit. The Sheriff reserves the right to postpone or stay the sale of any property in which the attorney on the writ has not appeared and is not present at the sale.

WWW.SheriffSale.Com

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