Tax Deeds Some info please

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I reside in Michigan and recently they switched from selling tax liens to tax deeds. I believe this means that we actually buy the deed for the property. Is this correct? How do I find out what the redemption period is? What happens if the property goes into foreclosure? I know I am first in line, but do I only recieve money? (is there a percentage I add to that?) or do i attain the property?

any help, or reference of where i can get info would be greatly appreciated.

THanks,
Jhrigora