I don’t know much about them, but I’m quickly becoming fascinated with them and wonder if I go to the below auction..what my chances would be to winning this home for less than 5K…  what do you think?

I know usually they are filled with investors (like car auctions filled with dealers) filled with investors with big cash at hand to out bid me…but I might just go to see how this particular auction work. I see MANY of their signs all throughout the West End. This home looks to have some nice features:

769 CASCADE PLACE ATLANTA, GA 30310

Description
3BR 2BA 1968sf+- single-family. Built 1925. Approx .25ac lot. Taxes approx $2865 (’06)Oakland City subdivision.Open House
1-4pm Sat. Feb. 16th and 2hrs prior to sale.

Opening Bid
$1,000

Sells
1:45 PM Wednesday, February 20, 2008

Sale Location: 1571 LINDA WAY ATLANTA, GA 30310