Foreclosure Offer on soon to be condemned property

[Kyle Allen]

We have located a property that the mayor is going to condemn that has been foreclosed due to the resident abandoning the home. The front section of the house needs to be torn down as the foundation and house are just not salvageable. However the back portion of the house was new and just need remodeled. The property listed at 32500, but with having to demo the house and it being foreclosed i do not feel the property is worth this amount. We intend on tearing the front portion off and renovation whats left of the back portion which would be a full gut job. Question is given the condition of the home and after speaking with the mayor of the city they intend on condemning and demoing the house unless the new buyer intends to tear it down. I have clear my plans with them to save the remaining portion but im struggling with what to offer on the property. It is hard to gauge like properties given the condition. With the cost of demo and renovation i was going to offer 5k but I feel like i'm low balling too much. Has anyone else ran into experiences with properties like this? Would love to hear from everyone regarding these. Thank you all!