Foreclosure gone to auction... Next step??

[Brittany Brown]

I've been wanting to purchase a house for a couple months now. The only problem was credit... So my husband and I have taken our time to build our credit to be able to make an offer. The house was a foreclosure and we just found out the house is going up for auction. it went from a starting price of $150k to then $140k and $134k... The last price drop was to $114k! We were so excited since there was no one was putting a bid in. Since it's going up for auction, is my only option now a private lender to catch this deal? Also, does anyone have any experience with auctions and could give some advice? Thank you in advance! -Brittany