Buying a bank foreclosed property at auction

[David Powell]

Hi

I'm exploring different ways to get into Real Estate and I was talking to my brother and a house down the street from him was foreclosed and is going up for auction.  I wasn't thinking about this way but since my brother knows the area well he could partner with me on the deal.   The place has been vacation since January or so but it's in a relatively nice neighborhood. 

I've never bought a property via an auction. What are the things you need to consider? Can you still do an inspection similar to buying a house off the MLS or are these types of Auctions 'As is'?

Thanks

Dave

If you know any good threads already covering this topic please feel free to link them.