Online Auctions?!

[Vanessa Ryder]

I am tracking a property that is scheduled for an online Auction this week (provided it isn't postponed!) The outstanding default amount is pretty close to the current (pre rehab) value. ARV is OK. Curious if the bank ever takes less than their "reserve" at auction (whether online or otherwise). (And is the default amount the "reserve" or is it another calculation?) Any input from those of you who do this / know about this would be much appreciated!! PS I am in California!