Foreclosure Bid Question

[Steve Leonard]

Good Evening,

I found this estate for sale that is owned by a loan servicing company now it's been on the market almost a year.  Description says Cash sale preferred. Listed for $550k about half of what it's Tax Value is. It's tough to find comps for it around here.  But I know it needs extensive work.  Can you wholesale a bank owned property or do I need to close on it first and then market it?

Thanks Steve