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Typically all auctions have very high reserve prices. Think of ebay, but instead, they wont tell you the reserve price. Auctions may be listed at $5000 but the reserve price is $200,000. So unless your bid is over $200,000 you dont win anything. The deal you get depends on the state.
Most auctions are a waste of time because of the high reserve prices are often higher than the property is worth. Around here, most of the time you need to wait until its listed with a realtor and sits on the market unsold for 6 months or so then make a realistic bid.
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