Purchase of auction flat from third party

Dear Sir's, I am planning to purchase bank auction property through third party named Real Acers, the said company is actually funding me to purchase this property and the attached MOU has to be executed, the property is in prime location of mumbai and is offered at almost 50% less than the market value. My queries, 1) As per my knowledge in bank auction we will have to make bid for the property and if it is the highest bid then we will have to pay to the bank total consideration in cash (no bank loan is possible), then how this company is organising such direct sale. 2) Is it legal? 3) Attached MOU says that the property will be in Real Acers name till the time i repay the amount then what about registering the property will it be registered in companies name? 4) It is safe to go for such deals and with what precautions. Any other suggestions or guidelines will be really helpful. Thank you very much in advance, Arun More. 09769577728