Philly Tax Sale Next Week

[Alex Morstadt]

Quick Question for Philly County Tax Sale Guru's

I have a friend who owns a 2nd Mortgage on a property going to the City of Philadelphia Tax Sale next week. The first is quite low, so if it does end up selling, he would make money at a low percentage of FMV.

My question is for folks who go to these sales what do properties typically go for at this sale? I dont know Philly, but its in north Philly, and it doesnt look like a great neighborhood - still the FMV is $100-120K.

The crux of the question is, should he go and pay the taxes... If I owned the note, I would want it to sell for $50k at the sale and walk away.  Is anything like that realistic?

Thank you!