General Foreclosure/Auction question

[Rob Jones]

I am very new to the whole real estate investment world, but have been fascinated by it for quite some time. I have been reading and researching as much as possible,on foreclosures but a couple of things I still seem a little confused on.

1. I see on the Tax Assessor's website a list of foreclosures to be auctioned off for that specific month, but on that list each one says must be paid in cash. Does this mean you have to have all of the cash up front? Or can you be pre-approved?

2. Also I am curious if there are other types of foreclosures besides the Bank owned auction foreclosures? If so, are there any upsides as to which ones are better?

Sorry if these question are very elementary, but I am very curious and would like to learn more about this topic