Courthouse Auction questions

[Rodney Dawkins]

Had a property under contract which was in preforeclosure, 2 weeks before closing the property landed in foreclosure with the bank stating that the property would be sold on the court house steps. The only way to salvage the deal is to implement a new contract for 10k more than our original contract or purchase at court house steps. As I've never done auctions before would anyone share any insights as to the auction process, and what pitfalls I should be aware of.