Philadelphia – October 06, 2026 -- Forty-six homes across Philadelphia and its suburbs will be sold at online auction under orders of the U.S. Bankruptcy Court, with opening bids set at $25,000 or $50,000 per property.
Bidding window runs October 6 through October 15
Online bidding opened Tuesday, Oct. 6, with auctions closing in staggered windows from Oct. 13 through Oct. 15. Tranzon Alderfer is conducting the sale alongside Tranzon Driggers, the court-approved auctioneer in the RAD Diversified REIT bankruptcy. A 10% buyer's premium applies to all winning bids.
Sale stems from RAD Diversified REIT Chapter 11 case
Each transaction is conducted under Chapter 11 proceedings pending in the U.S. Bankruptcy Court for the Middle District of Florida, Case No. 8:26-bk-01636-CPM, In re: RAD Diversified REIT, Inc., et al., and remains subject to court approval. Secured lenders retain the right to participate via credit bidding. All properties are sold as-is, where-is, without warranties, and buyers are responsible for outstanding real estate taxes.
Portfolio spans rowhomes, multifamily buildings and two suburban counties
Most listings are rowhomes and single-family houses in Philadelphia, with a smaller number of multifamily buildings and additional properties located in Chester and Delaware counties. The majority of properties will sell individually, though a few have been grouped into packages for bidding.
Opening bids target both first-time buyers and institutional investors
"People hear 'bankruptcy auction' and assume it's only for big investors. It isn't," said Samantha Kelley, CEO of Tranzon Alderfer. She noted that at these opening bid levels, a first-time homebuyer could compete directly against a landlord managing fifty rental units.
Tranzon Alderfer expands bankruptcy and court-ordered sale work regionally
Founded in Harleysville in 1959 by Sanford A. Alderfer, the firm now operates from Harleysville and Philadelphia offices under Kelley and owner Thomas Saturley. The company reports growing volume of referrals from bankruptcy trustees, lenders, attorneys and financial advisors across Pennsylvania, New Jersey, Delaware and Maryland, citing court-mandated speed and documentation requirements as its specialty.