You are letting all the details cloud the deal. The old forrest vs. the tree.
If you want to make an offer before the auction, go do it. If it don't work, heh, the auction is coming.
If the property goes to auction, attend and bid what you think it is worth. This is capitalism at its best. Value is what is in the eye of the beholder.
Personally, I buy all my properties off the MLS. I like the support of a legal contract vs the it is what it is of an auction.
You asked, and I share with you what I expect! I expect you to have an experienced real estate consultant with you.
They will auction anywhere between 15 and 30 properties per hour and things will move rapidly. It will be your (the bidder) responsibility to thoroughly review all property disclosures, auction terms, conditions and purchase contract, etc., etc. Also, it will be expected from you to promptly sign purchase contract and discuss financing. Often the sellers have the option to remove their properties from the auction at any time.
Go to my website http://www.housesapartmentsandcondos.com and read "Auction Q & A"
I wish you the best.
Wish you luck, but Please be very careful and know you are taking RISKs. DO your homework!!!!!
then do some more.