Newbie Foreclosure Investment Question

[Shawn M.]

Condo association foreclosed a unit over 1 year ago. The bank is now foreclosing the property. I was going to contact the bank after they foreclosed tomorrow to discuss purchasing the property. However, today I bumped into a couple of investors trying to access the unit. They said the unit is going to auction tomorrow and they are considering bidding. How we they be able to purchase the unit tomorrow when the bank has a $100K lien on the property? Wouldn't the bank take title tomorrow then sell the unit?