Attended Foreclosure Sale Today

I've always wondered what the process was like when homes in foreclosure, finally went to sale.  Today I finally attended my first foreclosure sale, which happend to be in the City and County of Broomfield CO.  Very uneventful, actually.  A rep. came into the chambers and began to read off one property at a time, then asked if there were any other bids on that property, which there usually is not in Broomfield, and then it is announced that the winning bidder is usually the foreclosing lender at the bid price of what the homeowner owned the lender.  The sales take place on each Wed. at 10 a.m. for all counties in Colorado.  The bid by the foreclosing lender must be submitted by Monday, two days prior to the sale date, and is available for public knowledge after 1 p.m. on Monday. Anyone else can then bid on the sale date on Wed., if they wish.  Just be prepared to have a cashier's check for your entire winning bid amount to the City and County by 1 p.m. that same day.  Not really an option for most potential bidders.