So I keep hearing about this, so tomorrow I'm going down to watch the process. Today I went up to the county clerk's office and looked through a book of upcoming auctions. Anyone ever done this? 1) You have to pay 5% cash at time of auction, and the rest by 4:00 that day. 2) It is hard to see which properties are up for auction, cause the court papers don't always have the address of the property listed. 3) You can't go to the property and go inside to see how much work needs to be done. 4) You don't know if someone else has a lien on the property before buying. Seems to me to be a lot of risk!