Bidding on a preforeclosure

[Yaakov Mirman]

Hi,

I starting out and found my first possible deal. I'm just trying to understand how to move forward. Any thoughts are appreciated.

I've recently found a house that has at least 3 years of tax liens. I contact the seller and she says make a bid. She is not willing to talk much. I have run comps and it seems like the house is worth 800k . I have noticed that the house was put up for sale by a broker a few months ago and it is no longer listed.

How do my friends in the forms understand this scenario?

Is it worth making a bid?

What is a fair bid?

Thank you