After the period for redemption of such real property, as provided by law, has expired and the said real property has not been redeemed by the former owner or party in interest, the political subdivisions holding title to such real property may by agreement sell the said real property at a private sale for any price agreed upon, or at a public sale under terms and conditions set forth in the agreement for the best price obtainable, and by deed convey their respective interest to the purchaser, regardless of any law or laws imposing restrictions on the selling and conveyance of real property by such political subdivisions individually. Such agreement may provide that the purchase price be applied to the payment of a commission to a real estate broker or public auctioneer, to the expense of perfecting the title to be conveyed, if necessary, or to any other expense ordinarily incident to the grantor of real property, before paying the balance of the purchase price to such political subdivisions, first in proportion to their tax claims, second in proportion to their municipal claims, and, if said purchase price is more than sufficient to pay all the aforesaid claims, any balance remaining shall be paid to said political subdivisions in proportion to their tax claims at the time said real property was acquired by them. The title conveyed shall be free and clear of all claims of such political subdivisions.