You pay the taxes owed plus any interest and penalties.
The homeowner is given a "redemption period" (often 1–3 years) to pay you back with interest. Interest rates can be quite high, sometimes ranging from 5% to 36% depending on state laws. buying a lien on a house
When a homeowner fails to pay property taxes, the local municipality can issue a . Investors purchase these certificates at public auctions. You pay the taxes owed plus any interest and penalties