I just researched the Internet on this specific subject and obtained the following information: 

"A common myth promoted at some real-estate seminars is that tax liens are an easy path to acquiring properties on the cheap.

That almost never happens, treasurers said.

Even in a foreclosure, mortgage lenders will step in to make good on the tax lien rather than have an investor cut them out.

Property owners are allowed to go three years on a tax lien before a lien holder can apply for a deed to the property. When owners don't cover a lien, it is usually because the land is worthless. "

Article 0n Internet:  If you read the full article, if gives great information. -

 It seems that at the tax auction - you buy a tax lien certificate, not the actual property.   Honestly, fellow interested investors - lots of information is available on the Internet.  It is a good start, plus the information from first-hand experience of investors on this site. I myself am looking into buying tax lien certificate at the auctions. This article is good because it brought up a problem- that will affect your investment : the premium charged by County- What I am going to do is go to the RE Tax Office in my County and see what information I can obtain as to procedures in my state. 

P.S.  Glad you posed the question because it caused me to locate this article, which has information I was looking for- the pitfalls of these investments. Of course, they will probably differ from county to county or State to State.

Tax debtors' pain, investors' gain

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