Buying From An Auction - question from a newbie

[Bobby Gillespie]

As part of my learning process, I've watched my first live local county Real Estate Foreclosure sales auction.

I saw a 15year old house valued (via my local knowledge) at about $200k, sell for $135k.

If I were this buyer what are my risks from now on?

Is there the potential for HOA fees that are due, unpaid Property tax? Eviction potential?

I'm assuming the house could be in bad shape and need $ to bring up to saleable state.

What else am I missing?

I have been looking back at old auctions and observed what appears to be good deals... however, I know that's likely naïve of me!!!