baltimore Tax sales Odd question
Okay.. I have a property in Baltimore city that I didn't pay the taxes on and the the tax lien certificate was sold at the last sale for about $5,300. I was about to pay it off and then I saw the person Bid $55,000 on the townhouse. I just bought the townhouse for $28,000 6 months ago. So, $55,000 would be nice profit.
So, if I understand the process correctly if I don't redeem it the certificate holder can foreclosure and pay me $55,00 for the house, right?
and if he doesn't foreclosure within 2 years his lien is wiped out and I've saved $5,300 by not redeming. It seems like a win win for me not to redeem it.
Am I missing something? Can he sue my company for the taxes or is the lien just secured against the house?
Thanks for any input.
@Ned Carey I know this is not the kind of question you like to hear from an owner, but I'm SURE you know the answer !! : )