Buying a property from the FDIC

[Jack Clough]

Does anyone have experience in buying a property that was owned by the FDIC? And if so, how'd that go? And any advice? I'm looking at a 6900 sf mixed use property that needs a lot of work. They acquired the property from a bank that went belly-up. So, would they be eager to get rid of it? Do they have to pay taxes on it even though they are the fed (FDIC). Thanks in advance.