So who controls the auction?
Is it not the party who holds title to the property?
Read the fine print, most allow the title holder to accept or reject any auction bid at their option.
I supose you think the stinkiest part of my advice is GET A RAL ESTATE ATTORNEY TO ADVISE YOU AND PROTECT YOUR INTERESTS.
If you have to ask these questions, you are in no shape to give advice on foreclosure auctions.
Read the fine print, most allow the title holder to accept or reject any auction bid at their option.
What fine print? Once the property goes to auction, it is out of the hands of the bank. Besides, until the auction occurs, the title holder is the homeowner, not the bank. Are you really in Real Estate?