Buying Home at Auction?

I am a first time home buyer, I was looking at some of the properties listed in a upcoming local home auction in Washington DC area.
Is it a good idea to buy at auction?
Any drawbacks?
Any hidden charges?

For example if I win a house in auction for $ 200k, is that all my loan is going to be?
what happens to the monies that the previous owner owes to his bank?

Please guide

Register New Account
Reset Password