Question on a sheriff sale

[Dylan D.]

There is a piece of land that is coming up for sheriff sale in 1 month. The piece of land is in an area that I've been searching for land in for years, it is my ideal building spot, family in area etc. that being said I am willing to pay for this property. Here is what I've found out on the property..it is a 17 acre tract of land with a home which probably needs demolished, at one time this was a part of a 100 acre tract witch has been lotted off in 20 acre parcels over the last 15 years. The owner died about 8 months ago and from what I can gather was living in the house on the property at that time (not sure how the house is litterly falling over) The most recent 20 acre lot was sold in 2015 and sold for 86,000 the auditor has the 17 acre parcel that is foreclosed apraised at 90k. I'm assuming at the time of the apraisal the house added some type of value. The lender that is foreclosing appears to be the only lien. As of 2013the balance was around 125k!! So for the sake of keeping things simple lets just assume that the banks upset price is 120k+/- and that this is the only lien involved. My question is before wasting a bunch of money on title searches and consulting with an attorney am I wasting my time hoping that this would sell for 30-40k less then what the bank is owed? I am confident that I would be the only person willing to pay that much for this property in the condition that it is in so my only competition would be the bank.