Buying a bank owned foreclosure at auction

[Uma Tuchscherer]

Looking at buying a house at auction, just looking for some insight or pros/cons from anyone who has already done this. The house needs work for sure, it's starting bid is only 10K, and it's only valued at around 67K, but it wouldn't be a terrible project house to begin with. Any help here? Has anyone bought a place using auction.com? Any hidden drawbacks I should be aware of?