Are you referring to the trustee sale or to a resale auction?
The repo auction where the bank’s trustee goes to the courthouse steps and “auctions” the property is public record and usually not terribly beneficial.
Generally, the minimum bid is more than the market value of the property.
Also, there is no inspection or escrow period.
If you spend $200k on a house that is less valuable than the $150k lot it is on (like houses that have had all the copper plumbing pulled out), then you are out of luck. You pay with a cashier’s check and have essentially no protections.
