Advice on abandoned property / pre REO

[Nick G.]

Hi Everyone,

I'm looking to get some advice on a potential deal, here are the details:

There is a house in my old neighborhood, it was owned by an elderly man who has passed away. To my knowledge there is no next of kin.

The house has sat vacant for over a year and continues to deteriorate. Based on the condition it would be a full renovation. I spoke to the local tax assessor, the deceased man is still listed as the owner. I also found out that the taxes are up to date and have been paid by a local bank. Since this bank is paying the taxes, I know they have some interest in the property.

I reached out to the bank to gather more information and I was informed that the house is not yet a REO and was referred to the mortgage servicing department. I have left a message with them and hopefully will hear back this coming week.

Now my questions are:

- What is the status of this house? I can hopefully get this once I get a call back, but since I was told its not a REO yet, I'm thinking possibly being held in a trust or going to foreclosure.

-Would the bank take offers on this house? What would be the right way to approach this?

-Are there any other questions I should ask the bank?

Any help from anyone who has dealt with a similar situation is extremely appreciated.

Nick