[Bobby Dread]

I recently receieved notice that the building I live in will soon be up for Sheriff's sale for property taxes. The jurisdiction is Pennsylvaina. I am not clear on several points about taxe sales. The amount of the taxes are around $8,000. When would the buyer get possession of the building? I find it hard to believe that a building worth 20 times that at least, with two LONG time (14 & 18 year) tenant and one commercial tenant (20+ years) could be had for such a little price! The landlord is in serious trouble, almost all of their properties are on the market, the 'scuttlebutt' among other tenants is that there will be several properties up for tax sale.
So my questions:

1. How long before the buyer gets the property?
2. What protection for the tenants in such a situation? I have a lease, that renews yearly, it has already 'transfered' once when the property was sold 8 years ago.
3. One idea we are considering- In PA, a tenant can pay an outstanding utility, then deduct that amount from rent. If I paid the tax bill, that would be over a years worth of rent.
4. Try to buy the building myself for the taxes. Kind of relates to #1, also is it likely to go for the amount listed, or would it be more. I know I would have to pay cash or cashiers check on the spot.

[Fr_Chuck]

Your local county court house will have the sale procedures for you, here is one county in PA Delaware County PA

In their case it takes about 6 months to 12 months to get a deed.

You have 20 days to show you have paid all other taxes due, city taxes, any unpaid untilities. That are due on the property

In most cases the property taxes are paid by or on the day of the sale. Very few of the properties on a tax sell list actually go on sale.

There is also several sales, the first time it goes for sale the starting bid is the amount of the tax, good properties may go for that amount and a lot more. The other secret is that that amount has to be paid in full the day of the sale, so only people with money in the bank or a line of credit can buy them.

Of the properties that actually go on sale, many do not sale at this sale, then at the next sale they start at no min bid.

Also there is no warranty with the deed, so there may be other liens that would still be in place, IRS for example that you would be responsible for if you bought the proeprties, so a complete search needs to be considered