Philly land bank hasn’t bid on any sheriff’s sale properties

Dated: March 29 2025

Views: 39

Last July, following a long hiatus, the Philadelphia Sheriff’s Office quietly resumed selling off tax-delinquent properties across the city. Since then, the office has held nearly three dozen tax sales using a real estate auction website called Bid4Assets. Well over 1,000 properties were auctioned at those sales, but the Philadelphia Land Bank, the quasi-governmental agency charged with putting vacant parcels into productive use, did not place any bids despite having the funds. The land bank is still unable to acquire properties through its priority bid — a power granted by state law that effectively ensures the agency is the sole bidder. Typically, tax-delinquent properties are sold to the highest bidder, an arrangement housing advocates argue invites speculation in lower-income neighborhoods. City spokesperson Jamila Davis said the “Land Bank and the Sheriff’s Office are currently working out operational details for the land bank to exercise its priority bid on the new online platform.” Read more at PlanPhilly.
Source: PlanPhilly; 3/7/2025

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Pete McGuinn

Pete McGuinn - Your Trusted RE/MAX Main Line Real Estate Expert With over 22 years of experience as a full-time REALTOR® at RE/MAX Main Line, Pete McGuinn is a distinguished real estate professional....

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