Buying Chapter 11 RE

[Mike Clancy]

I am analyzing a duplex near Seattle where the owners are in Bankruptcy Chapter 11 for multiple properties over $1.6 million in back taxes....Of course I will consult an attorney - but before I do I wanted feedback on whether to pursue any further.

The asking price is way too high for it to make sense (which is part of why it's been on the market for over 135 days, so I would only offer a number that made sense). However, if I could get this property for a low amount, it might be worth the headache of going through the court system.

I know I have a lot of due diligence ahead of me, but wondered about people's successful experiences buying property from owners in bankruptcy....

Any advice is welcome! Thanks!