Buying an apartment?

[Jordan Carty]

hi everyone! 

I just found an apartment online that is going to auction in 1 week. Starting bid is around 20k. Looks like everything else around it is selling for around 40k.

1. Is there a way to buy a property before it goes to auction? 

2. I understand auctions will need cash within a very quick time frame. Is it unreasonable to be able to bring a down payment, and then use a conventional mortgage to get the property with a pre-approval letter?

3. Im not familiar with how buying an apartment works within a building, i am going to visit later today but what questions should i be asking and who would you recommend i talk to?

4. This  is potentially my first deal and am very nervous. What, if anything am i just completely missing?

I apologize for typos i am on my phone. 

Thank you in advance for your feedback!