Venomous
Honorary Master
There are a few points to consider....
Auction properties, normally:
No transfer costs, or bank covers it.
Bank pays rates, taxes, levies. Very few make it the new owner's problem.
They do not gaurantee vacant occupation. But HELL you're in it already so no one else to get out.
Quite often neither the bank, nor the defaulting owner likes the sheriff selling price. The auction price is final. Meaning property sold as is, often below bond or retail value.
The ex-owner then enters into new debt agreement for shortfall, if there was any.
Above is very simplified version. Can be more complex