Ok, so to start, lets cut a few things out that aren't necessary:
I already know the house very well and the issues it has, all set.
The original Owner had legal issues, and he fled the area with all his belongings, he is gone for good.
As it stands now, the original bank, Wells Fargo, is still sending him mail requesting payments. He is not going to pay them, so I'd imagine over a period of non payments Wells Fargo will eventually seize the house and attempt to auction it off to the highest bidder.
Here is where I am asking for help. Is there a way I can negotiate with Wells Fargo about buying the house? A few of my family members who are Real Estate brokers informed me I could get the house for less than 30,000, because it is not in the best area, it needs lots of work, and Wells Fargo is in hot water with other mortgages.
How can I go about buying the house for a low price?
Read more: Buying a Foreclosure Process help?
