if you read what you just post..
1. you are not buying a piece property, instead, you are buying a right to become the 1st lien holder.
2. you are not owning the piece property after you win, you are providing a 6% interest bearing loan to the home owner for 12 month.
3. you may still not the property owner after the 12 month redemption period, instead you just become the 1st lien on the property, to legally own that property, you need to foreclose the property thru court.
4. to legally own the piece propery, you need to pay off any bank mortgage and all junior liens attach to it.
5. there is no free lunch, the best story I heard over last 20 years, was a guy bought some ground thru tax sale and own it, but the ground was contaminated, and of course, you always will hear the story some one pay 10000 for a ditch..lol
good luck, and please report back.
