There have been a number of tax lien cases across the country where winning auctions bidders ended up with property where cleanup cost more than the bid.. they faced choice of taking title and performing cleanup or forfeiting their deposit and walking away.....

I recently won a bid at an auction for a property that was bank owned and haven't closed yet but have contract in hand. im currently marketing/wholesaling the deal to the marketplace. unfortunately since it is bank owned i will have to double close on this deal. i found someone who is interested din the property but would like to subject-to this deal.

Forgive me if this sounds like word-play but as someone who has bought multiple distressed properties on Oahu, including a foreclosure at auction, it was an important distinction so as to not attach an emotional preference to certain properties. 

A property with the PERFECT location for a short-term vacation rental is coming to auction.

After you get all kinds of paperwork, beg, plead with the actual note holder (possibly offer them some money for signatures), the bank will spend months asking for more information only to sell it to someone else or put it up for auction where someone offers closer to "As is value". 

You will certainly have tenant issues, and the process for auctioning off peoples' stuff that haven't paid is pretty much on par with an eviction.

We bought this at foreclosure auction.

Hi,So, I bought a property at the auction.

Are they bought at auction?

If the foreclosure already happened and they had a scheduled removal date, the house has already been bought at auction and they are squatting.