Lost, dazed and confused with MLS showing auction and not active.

[Sang Yi]

I saw a property listed on MLS that shows as Auction and not active. Listing agent is just a regular real estate listing agent. My agent found out some info but still unclear.

They have a lockbox so buyers can see the property. The property is a townhome in a good location. Needs cosmetic rehab like carpets. Agent replied by stating offers will be highest and best. Appraisals and home inspections are just like regular closing with finance.

listed at $220k start. Nearby townhome comparable shows late Mar 2021 sold for $250k, of course well maintained home. HOA is at $170.

with this crazy market, ive lost out on 2 offers already. I want this but not sure how high I should offer. 

please comment if you know anything about this kind of platform.