The procedures and requirements relating to the sale of property for delinquent taxes, including the advertisement for and the time and conduct of the sale, the payment of the purchase price, the distribution of proceeds, making the return and confirmation of sale and the delivery of deed, shall be governed by the act of July 7, 1947 (P.L.1368, No.542), known as the Real Estate Tax Sale Law, or the Municipal Claim and Tax Lien Law as utilized by the city in accordance with section 12542.1 (relating to public sale of property to satisfy tax claims) and by any applicable rules of court governing procedures for tax sales.