You need CASH, most jurisdictions require 10% in certified funds at the hammer. You have 30 days to close, CASH.
You can not buy with a mortgage contingency, you cannot normally inspect the property before buying. You buy it AS-IS with all the garbage that goes with it. Working or not. Tenants, squatters whatever.
If a speculator has bough the property, fixed it and is now flipping it, it is no longer a foreclosure; it is a regular sale except depending on how long the flipper has had title it may be difficult to get a new mortgage.
All the best,
Realty on the Greene, LLC