Typically, you have to have 20% in cash at the time of the auction, and the balance is due by the end of business that day. You are given a Trustee's Deed to the property. Most of the time, any other mechanic's liens, or seconds, will be cleared by the Trustee's Deed; however, that does not guarantee a free and clear title in all situations. It is good to have a property profile performed by a title company prior to bidding on a property. If you sell the home within a certain timeframe after your purchase, you may have difficulty selling that property to a Buyer that is securing an FHA loan. My understanding is that restrictiont has been lifted in Greene County, but I have not heard whether or not it has been lifted for Christian County. It is best to speak with a local lender regarding the FHA guidelines to be sure. Good luck to you!