Online Auctions for foreclosures in the US

Hi,

I've come across an online auction for properties in the USA.  Just wondering if anyone on the forum has purchased a property this way.  The site covers both residential and land - many different areas of the country.

For example, bidding will start at $59k for a 3 bedroom house built in 2007 in Texas which was previously valued at $255k.
Another with bidding at $5k for a 6 bedroom house built in 1929 in New Jersey previously valued at $325k.

Any thoughts or comments appreciated.

Could you please post the site.

I get regular updates from Phil Jones (a kiwi now based in US) who is a strong advocate of these sales, are these tax liens?

Sure. 

http://www.auction.com/auction_details_online_land.php?auctionID=L-001

I'm really not sure if they are tax liens - they all seem to have deliquency estimates though.

Can mattnz provide an email or web address for Phil Jones as well.