How does the auction process work?

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Hi all,

Just wondering how the foreclosure/Auction process work. I've glanced over some properties on auction.com and I am instructed to place a bid. Am I meant to conduct my property inspections AFTER I've already purchased the property? If so, am I basically taking a gamble at purchasing through an auction? Am I able to add inspection contingencies to my bid?

How have your past experiences played out?

Thanks, guys.