Home in Foreclosure

[Brad Martin]

I have been watching an old house on a foreclosure website. It was first listed in MLS for 65K but never sold. Now it is listed in the 20K range as an auction. So far the home has been posted for several days with no bids. Based upon the area and the land value, I think the house could be bought, torn down and then the land resold for a profit.

If it didn't get sold on the foreclosure website, would the bank then take over the property? Could I find out what bank holds the mortgage and make them an offer once the auction is over? How tough is this to do? Thanks.