REDC foreclosure auction- Florida

[Rich Weese]

There is a good sized auction of govt backed homes coming up for sale in Fl the 29th. I'v had an asst working on researching these.
Have any of you attended these? Have you ever bought anything at them? I watched online a TX auction currently going on. There is a minimum starting bid. It appears there is also a RESERVE that must be met. Many of these properties have been previously listed.
I'm curious if the reserves just make this a waste of time or not? Where the home has been listed, and unsold, the reserve would be relative to that number, but lower. Then again, this is the govt. so all logic should be tossed.
If any member has been to these auctions, please reply. It is a cool website, if you're interested in your area. auction.com. They have commercial, sfrs, notes etc. Rich