Wholesaler in Grants Pass, OR? Newbie needs help

[Josephine Bolden]

I found a property i want to make an offer on in Grants Pass, OR and am totally lost. Just been on BP a week. Looks like the seller owes $187,000 (Value is $300k-$400k.) An auction is scheduled for Sept. I do not know how to proceed, and don't know exactly where in the foreclosure process it is in. Do i just approach the seller and see if I can assume the loan, or make an offer in the hopes i can proceed with an FHA or conventional? I have $12k in the bank, which would just cover down and closing. Could be a great house hacking opportunity. Our market is incredibly tight here. Almost zero vacancy rate. I need to act fast, but there is nobody local to network with. Eugene is 2 hours north. Anyone out there who could advise?

I was prequalified for $250k before the interest rates spiked, but do not have closing costs for a $250 price. Vantage Credit score is 767.