SEPTEMBER is the month to grab your checkbooks and think “Time To Make Money In Pennsylvania!”
There are 67 counties in the Commonwealth of Pennsylvania. Each one of them holds an Annual Tax sale in September where you, yes you – can buy a deed to the real estate to any house being sold for non-payment of property taxes.
There are three types of property tax sales in Pennsylvania.
Upset – This is the annual tax sale, and is usually held in September. It is also called the “buyer beware” sale, because liens, mortgages, judgments, and anything that can attach to the title (deed) stays attached. In this type of sale, you the purchaser are responsible for everything. These properties can be bought from several hundred dollars on up.
Judicial – This is also known as the “free and clear” sale. Judicial sales usually take place in the spring of the following year following the upset sale. This sale is dubbed “free and clear” because all mortgages, liens, and claims are cleared by a court process (a quiet title action) before the sale. Properties in this type of sale usually sell for no more than a few thousand dollars each.
Repository – Properties not sold at judicial sale may be sold at repository sale. The cost of the property is usually no more than the County’s cost to advertise and sell the property (usually no more than $500-$600).
FOR ALL THE WHEN, WHERE, AND HOW, CLICK THE E-BOOK’S COVER FOR YOUR INSTANT DOWNLOAD!
It is VERY IMPORTANT to perform a title search BEFORE making an offer on any type of tax-defaulted property. As always, consult an attorney for advice. It is also prudent to seek the advice of a financial advisor or certified professional accountant before making such a purchase.
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