Foreclosure in Bristol, CT

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Hello

I was just looking at foreclosures in my hometown of Bristol, CT and was wondering if someone could answer this for me. I pasted the description of some property I found on yahoo's real estate search engine.

This property is a Notice of Foreclosure Sale. A notice was filed at the recorder's office by the lender's attorney signifying a public auction. This 1054 square foot property has 3 bedroom(s) and 1 bath(s). The estimated bid amount is $23200. This property will be auctioned at public sale on Jul 29, 2006. To access more extensive information on this property click the 'more property detail' link below. You will need to register for full access. Information listed with each property including estimated loan balance is derived from sources deemed accurate but we do not guarantee the accuracy of such information. Please consult all relevant title documents prior to purchase...

The Zestimates I ran for the are were considerably higher than 23,200.00

Does the above estimated bid represent where bidding starts from at these auctions. Also, I thought I read somewhere that you must make a deposit up front and pay the rest within 24 hours...Is this the case for most of these forclosure auctions?

Any guidance would be greatly appreciated.