i have successfully bid for 2 props in auction. and have turned out ok for me at the end.
1) owner refuse to shift out.... when they did.6mths later...they remove everything incl. the grilles and awning. luckily didn't sabo the plumbing. also had to pay syabas 900+ for unpaid bills and 800+ for TNB. if not cannot get supply .( ()(*&^%$ blooddy bullies)
should have made a rquest to syabas and TNB to disconnect supply, not risk serious demage to hse.
documents took 1 yr to complete, lucky had prepared with cash to stand-by, if ask extention of time bank will charge interest on outstanding 6-8%pa. and have to pay for 3mths inadvance.
2) next unit bought 40K vacant . documents still in process but paid in cash first. renovated 10K and rented out. rm300...ROI 7%

do yr homework to know the market ....have cash in hand for unseen expenses..

normally for auction, u would be able to view the inside of unit. if u can mostly the unit is vacant/abandoned, so unit would be in verybad shape.
i would set a "target price" apprx.30% below market of that area. cos u have to take it that a huge budget (CASH) (not more then d 30%) to renovate the hse.
but if u like the location slightly higher then add in the reno cost to get same market would be safe.
on top of all this the stress to get documentation done ..ohhh the bank laywers can delay and no panelty for them but the burden on buyer.