Philadelphia Sheriff Sales (Mortgage Foreclosures)

[J Lee]

Hello,

I am newly looking into sheriff sales, specifically on the mortgage foreclosure side. Off the bat, I had a few questions that hopefully someone more experienced can help: 

1. do auctions allow financing after winning the bid, or do they require entire amount to be immediately wired? 

2. When it comes to these types of auctions by the sheriff, is there a waiting period that must be observed before rehabbing/renting the building post winning the bid? If so, how long? 

3. I have been advised to do a title report on any properties I want to bid on, but am I able to do a title commitment? 

4. Dumb question - but are these auctions online only, or in-person? And do they accept counter-bids after initial bid is placed?

5. Any other advice that may be helpful.

Appreciate any responses in advance. Thank you