1. Is a deposit required to submit a bid?
A deposit is not required to submit a bid package. However, if your bid is accepted, you must provide 10% deposit to Philadelphia Redevelopment Authority within five (5) business days of receiving written notification that your bid has been accepted.
2. How do I find out about properties listed for Competitive Sale?
Please check this site frequently to see new listings or register to receive emails when new listings are posted. Go to Featured Properties for Sale for a complete listing.
3. How often are sales listed?
Properties are posted as they are identified.
4. How do I submit a bid?
Go to How to Submit an Bid for details. Incomplete bids will not be considered. Bidders must provide all items requested as part of the bid package or the bid package will be rejected. Late bids will not be considered.
5. I’ve submitted a bid package and all necessary paperwork. Now what?
Please allow for at least 15 business days to process bid packages. Additional information may be requested.
6. Can I set up a meeting or arrange a phone call to discuss my bid?
No phone calls or meetings will be taken. All questions should be addressed in writing via email to email@example.com.
7. What criteria are used to select the highest qualified bidder?
Highest qualfieid bids are reviewed based upon competitive pricing, strength of offer and likelihood to proceed with the proposed plans for improvement.
8. I have been accepted as the highest qualified bidder. When can we close on the property?
If your bid is accepted, you must provide 10% deposit within five (5) business days of receiving written notification that bid has been accepted. The bidder will then engage in a due diligience process, completing necessary paperwork and approvals to get closing.
9. Are there any restrictions on the sale or use of properties listed for Competitive Sale?
Various restrictions may apply, such as deed restrictions, redevelopment agreements and/or completion deadlines. Terms are subject to change at the City’s sole discretion at any time.