Tax Certificates
Can anyone help me understand something in purchasing tax certificates?
I have been looking at a web site in my state that list the late taxes on lots, and on a current housing development all the lot have late taxes for the past 3 years. The development is townhomes on a golf course and no one has purchased them. The return on these is in the double digits I can understand that when someone purchase the property that they would have to pay the back taxes but wouldn't the person that purchases them receive the interest on the back taxes? I am just trying to figure out if it is a good investment and if it isn't why it is not? 
Is there anyone out here that might have an idea as to why this is? Anything. Anyone know anything?!?
I am a real newbie in this - maybe someone can answer better - but this is what I think. Yes, you would pay those back taxes with interest - and then you would receive your money back when the owners later paid their own taxes (paying what you already paid plus whatever additional interest they would owe). The fun part is that, depending on what state you are in, you might be able to buy the liens and then foreclose on the properties - thus winding up owning them for whatever you paid in the back taxes. You would need to consult a lawyer on that part. Can I ask what state you are in? - I've been trying to find listings of available liens. Hope this helps.
I live in Nebraska.
My big question though is; why wouldn't you want to do this? I know that you might not get the property but the interest that you would get would be income in itself.