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Myth one: When you purchase a tax deed you have rights to own the property when it forecloses. You will not automatically get to own the property if the property own goes into foreclosure. The property will first go up for auction and then put on the market. There are some very rare cases where the property cannot be sold and then you will own the property, but is the exception, not the rule. You will have the opportunity to purchase at the auction and if you are the highest bidder will have full rights to the buy the property and then you’ll receive your return after the sale. Myth two: All Tax Deeds are the same. You will want to look at each deed individually as all properties are different and have different values.