Been evaluating a large, older house that is in bankruptcy with its owner. It has been listed for over a year for at $60,000. It last sold in 2011 for $27,000. I assume in fully livable/decent condition.  Smaller, and newer 100% good to go houses are around $70,000 in the market, some manufactured homes and land for around $50,000. 

There are three years of back taxes, and a fourth coming up here in November. 

The house has been vacant for a few years, and  was not winterized and some pipes have broken, 

The house is older and does not have a suitable crawl space to get under and fix. So it would require trenching/widending crawl space or taking out floors to fix. .

I've been told that the house will go back to the owner at the end of the month if it doesn't sell. 

I'm trying to figure out an acceptable offer given the condition and how long it has been on the market. 

Does it seem right to come in at 50% of list price, right away, or go below that and hope they accept? 50% is almost what  the owner paid in 2011 and probably right at the amount once taxes are taken out. 

Also, anyone ever dealt with buying a house from a trustee? 

I am also considering waiting for it to go back to its owner, who then will very shortly have a 4th year of back taxes to pay. 

Thanks