Do not do it. At auction you get the house as-is. That means with mold, with leaking roof, with broken foundation and so on. You get for free the termite damage AND best of all!!! The extra liens and 2nd, 3rd, 4th mortgages that go with it.

You could be buying more debt ( for you to pay) on the foreclosure than it is worth. You are only buying their interest in the property at auction. It is not the same as the whole property. I would sell you my interest in the brooklyn bridge. Give me money... I have no real interest in the bridge but would take your money for that nothing. You could find you owe thousands$$$ when you buy. Plus in some states when you buy at auction the original buyer could come back in a given time frame and pay you what was owed with like 8% interest and take the property back. Anything you did to the property is now gone. Siding, roofing, taxes all money lost. It is a scary thing to do.

You are best off to buy a completed foreclosure. You get the whol house that way and get a chance to ahve it looked at to see if it has serious problems or not. PLUS you buy the house, not just the banks interest in it.