What's my first step?

[Greg Leach]

Recently my friend's grandmother passed away and the family is going to sell her house. Obviously my opportunity sensor bells started ringing; however, I've never done a deal yet, so i don't even know where to begin. Should i approach the executor first, or should I get pre-approved for a loan? I know I'd have more leverage if i was able to be a cash buyer, but I only have enough saved right now for a down payment. I know that I'd save on commission and realtor fees if I get this deal before it is listed with an agent, so I have to act fast. 

I've been inside the house a few months ago and it seemed like everything was fine, may need some updating, but at that time I wasn't there looking to buy the house. From what I could find on Zillow's "recently sold" listings, a comparable property just down the street that had been updated sold for $400k in December.

If you were in my situation, what would be your first course of action?

Or maybe I'm foolish for wanting to buy my friend's family's house?