Question about purchasing a property at IRS auction

[Zach Ziskin]

Hi all,

I live in Florida and the IRS is auctioning a property that I'm interested in purchasing. Based on my due diligence there is no existing mortgage, and the only recorded judgments or encumbrances against the owner/taxpayer (besides the IRS tax lien) are a $900 hospital judgment and $6300 in property taxes, but based on the opening bid and what the FMV is, that's not a big deal. Here's my question.

Assume I win the auction for the property. According to the IRS' property auction FAQ, the defaulting taxpayer/owner or anyone with a senior lien interest has 180 days from the date of the auction to redeem the property by paying me my auction purchase price plus 20% annual interest. I just want to confirm that this means I cannot re-sell the property for 180 days, yes? Does anyone have any experience with purchasing IRS auction properties? Thanks in advance.