Now, the auction can either be live (in-person) or online. Online foreclosure sales are becoming more and more common. If a third party purchases a foreclosed property at the foreclosure auction, the lender may or may not receive full reimbursement of its losses, depending on the winning bid amount. Foreclosures may be judicial, which means going through the court system to seize and sell the property. House auctions offer foreclosed homes up at a reduced price, saving you big on your new piece of real estate. REO properties are typically homes that have gone back to their respective mortgage companies following an unsuccessful foreclosure auction or short sale. Or they may be non-judicial, where the foreclosure does not involve the courts and are usually processed much … Find and bid on Residential Real Estate in Bexar County, TX. But before you consider buying a foreclosed home at a house auction, be aware of … Foreclosure laws vary by state, and the auction date may be scheduled further than three weeks away. At the foreclosure sale… ) In the past, foreclosure sales almost always involved an auctioneer selling the property from the courthouse steps or another public area. Search our database of Bexar County Property Auctions for free!