Auction property for sale

Hello, We have saw one auction property from hdfc bank in our area which is a 2 bhk flat with around 980 built up and around 800 carpet the history of the flat is the owner buy the flat took loan from bank and hot paid the EMI and bank make him defaulter and after notice also no reply from borrower and he never visited the bank since long time . So bank took the possession of the property and they have auctioned the property 3 times till now in first auction the it was successful but there was loan issue of that person so he couldn't be able to buy that flat second time again during second auction the bid was successful one person owned it and took the flat but there was one case on that person name and bank hold the loan so now the third time they are starting the auction but they don't want a risk now so they are looking for people who can buy and then they will confirm that this person can be able to close the loan and start the bid process but no one is actually participate in it... Only that confirmed person will be there as a participant and he will win the bid. This property is 5 yrs old so is it a good option to go for? The flat is spacious and good condition.