If the property is sold on the court house steps it will be sold to a bank, then any person can bid on it after that for 1.00 over the banks bid (if the bank pays 50,000 your bid would be 50,001). If more then one offer is put in, the increments are by 100.00. If you are thinking about purchasing a property like that be sure to do your due diligence. The home may have liens attached. The properties are posted in the paper before the day of the actual auction. If I were you I would attend one to see how it works. It is pretty interesting and doesn't cost anything. I would think by the time it gets to this point the redemption period is over. I think the redemption period is 6 months prior to getting to this point.