Buying on courthouse steps

[Jeremy Kersten]

I've heard when you buy a foreclosure from the court house steps at auction that you cannot resell the property for X amount of time to give the foreclosee a chance to buy it back. Something like a few years? Could someone shed some light on this subject for me. Thank you. 

[Wayne Brooks]

Some states have redemption periods, during which time the owner can buy it back.  Talk to a local real estate attorney, as there many other things you'll need to know, that you don't know now.