@Clark Spruill you may be able to make a low offer and do a short sale. If they are losing it anyway then a short sale would save their credit a little bit verses a foreclosure on their record. Regardless what you do the property has to be a solid deal so it makes no difference what they are asking but how much will they accept. The short sale process can be a very educational and frustrating experience so keep that in mind.
If you are 30 days from sale, trying to initiate a short sale within that timeframe would be iffy at best, especially if the property is not listed. Most lenders (All but the ones getting ready to be shut down) would require the property listed on MLS, and be represented by an agent. Adding to that, unless it's a cash sale, chances drop even further.
If seller is selling above market, and you are a cash buyer, why not just bypass that process altogether and show up at the courthouse steps and bid for it?