Sorry I don’t think the title has the best wording. My friend is telling me that you can buy a home that someone lost due to not paying their taxes for super cheap. BUT if they come back and pay the taxes they owed within a certain time period you lose the home you bought AND the money you bought it with you don’t get back.

Is this true? Is it basically a gamble? Like It’s like hey you can buy a home at a fraction of the price but it’s a gamble because if they pay the taxes within the time period the state sets you lose the home and don’t get your money back.

Also seems like if someone lost their home due to not paying taxes they could get a loan and put the deed to their home up as collateral for the loan and buy it back that way right?

Pretty far out stuff.

Thanks for any insight on this. I tried googling jt i saw either they can pay what you paid and get the home back or they can pay the taxes and get it back. So maybe it is true if they pay the taxes the home remains theirs and the buyer loses the money they bought the home with at the auction.

Once again thanks for the share of knowledge on this.