Luzerne County delinquent tax auction hits record sales
September 28, 2024 - Luzerne County’s delinquent tax auction hit another record sales high, with bidders paying $4.6 million to purchase 164 parcels last week, according to a post-sale report.
Veteran bidder Glenn Keller again purchased the most properties at the annual first-stage sale 21 parcels for approximately $758,300, said the report compiled by Elite Revenue Solutions, the county’s tax-claim operator.
The county’s previous overall auction high was a year ago when bidders bought 167 parcels for $4.357 million. All figures include realty transfer tax.
A year before that, in September 2022, auction sales surpassed the $3 million mark for the first time.
County auctions have been attracting more bidders in recent years due to increased public awareness about the opportunity and heightened interest in potential bargains that may not be available through the traditional real estate market, officials have said.
Elite Revenue representative Sean Shamany said approximately 450 bidders submitted required paperwork to register for last week’s auction. “There are more people bidding now. It’s very competitive,” Shamany said. “It’s been a very active season.”
Bidding competition strong at Luzerne County’s latest back-tax auction
August 10, 2024 - Hungry bidders left little on the table at Luzerne County main annual free-and-clear delinquent tax auction last week, a post-auction report shows.
The auction generated $1.08 million, with 86 parcels selling and 25 with no bids, according to the report from county tax-claim operator Elite Revenue Solutions LLC.
Evidence of the popularity of county tax sales can be seen in the competition — 64% of the purchased properties attracted multiple bidders, driving purchase prices above the minimum bid. The others sold for the starting bid amount.
Formally known as a judicial sale, the auction held Thursday sells properties cleared of liens and back taxes because they were not purchased at a first-stage upset sale. As a result, the starting bids are set at lower amounts to recoup only the tax claim costs to bring the parcels to auction.
The two highest prices paid in this sale were for double-block residential properties in Wilkes-Barre.
Competition high at recent Luzerne County tax sale
May 8, 2022 - Bidders purchased 146 properties in Luzerne County’s April 28 back-tax auction, recouping approximately $2.9 million, according to a final report from county tax-claim operator Elite Revenue Solutions LLC.
Most sold properties — 137 — were in the final-stage free-and-clear sale, when liens and back taxes are cleared. The remaining nine were sold in the first-stage upset sale, which requires bidders to pay all delinquent taxes and accept responsibility for any outstanding mortgages and liens.
Fourteen properties in the free-and-clear sold for more than $50,000, with competition driving up purchase prices far beyond bids that started below $5,000, records show.
Properties sell above minimum bid in Luzerne County tax sale
May 2, 2021 - Nine of 11 listed properties sold in Luzerne County’s first back-tax auction of the year, according to county tax-claim operator Elite Revenue Solutions LLC.
The special upset sale held Thursday was for properties in which the owners defaulted on repayment agreements, said Elite representative Sean Shamany. In a first-stage upset sale, buyers must pay all back real estate taxes and accept responsibility for any outstanding mortgages and liens.
Bidders buy tax-delinquent properties at arena auction
September 6, 2020 - WILKES-BARRE TWP. — Nanticoke resident Terry Panetta scored deals on two tax-delinquent properties at Luzerne County’s back-tax auction held Thursday at Mohegan Sun Arena.
He bought a Nanticoke property for $6,700 for his mom and a Larksville property for $8,500 that he plans to resell.
Wiilkes-Barre resident Elizabeth Fleury scored another deal. She purchased a Dupont property for $29,000 and she called it an “investment.”