How to close REO?

[Marko Petrekovic]

Hello, investors!

I have won the REO on 09/28 on the auction in Miami for $52000, and closing got extended twice. 12/28 is deadline. the case is: there is no appropriate parking lot so the grass in front needs to be paved, and chain link needs to be fixed. Bank has liens $40500, and when they fix the problem, penalty is going to be reduced on 10-20% As far as I know,on 12/05 they still didn't start fixing the problem. Does anybody wont to share the opinion what is going to happen? Is bank gonna be able to close before deadline? What if won't? I was thinking to try and get the asset manager and make an offer to sell me property with current liens for 20k, so I can fix it for 5-10k, and pay penalty another 5-10k, so the worst scenario of expenses would be 10k(fixing)+10k(penalty)+20k(purchase)=40k, what is cheaper deal for me, and might work for bank since they are unable to fix it within 3 months. I am newbie. Is my plan good? Should I look for asset manager before or after expiration of the contract? FLflipper? You are my idol, help me, please!