It's certainly a good idea to familiarize yourself with the auction process. There usually isn't much competition for properties sold at auction. Sometimes no one shows up to bid on a property, perhaps due to transportation problems or inclement weather. This creates fantastic opportunities for the diligent investor. Disadvantages Buying at the courthouse can be very dangerous for those who do not do their research properly.
Horror stories abound.
The large cash outlay required to buy the property is the biggest deterrent for most buyers. Certified checks and sometimes cash will be required to bid on properties. You may have to pay off the sale amount within 30 - 90 days. In some states it's a matter of days. That's just 6 hours from the time the bidding starts to the time you must pay for the property in full or risk losing your cash deposit.