Purchase before foreclosure auction
Does anyone have experience purchasing pre-foreclosure properties? I recently found a nice piece of land that is set to be auctioned in July according to the bank documents. Looks like the loan is held by Wells Fargo and they are like $26,000 behind in payments. What would the strategy be? Is this possible? Would I approach the owner or the bank? I would love any advice. I figure I will also talk to a real estate attorney, but thought I'd start here to see what others have experienced. Thanks!!