Hi I am wanting to purchase a property at a mortgagees auction. The house has been under contract from a developer and they apparently delayed the settlement so the mortgagee took possession. The house has a caveat on it from the developer. People have told me the developer will have a legitimate caveat interest and has delayed settlement but apparently made a counter settlement so in effect they still want to purchase the property . I really like the house but I am worried about my legal position and other professional people said stay away from it as it will be a problem for you. What is my exact legal postilion should i run away from it , what are my risks?