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Many cases of Public Auction is for unpaid mortgages, then the bank will provide you performing more than another to buy the property. 5 .- The appropriation of the bond and bid on auction day. To participate in a public auction to be entered in a bond that return cash to those who do not win the bid and retaining the winner and payment of the remainder signal. This bond must previously entered the day of the bid. We must bear in mind the following points-Despite the auction listing is no certainty that it is carried out, because the debtor may release the auction to pay the debt plus interest and costs. No starting price, however, to obtain the approval of the sale we will be the highest bidder and the bid to cover a percentage depending on the type of auction, so be the high bidder does not guarantee that we awarded the home.