Them being not named/served is problematic, as like any other junior lien holder, they have to be named and served to be “wiped out”.You might have to reopen the foreclosure suit after buying it, amend the foreclosure suit.Obviously, ask a local RE attorney that deals with title issues. 

If MO has a 12 month redemption I’m guessing the bank wouldn’t be selling it prior to the 12 months.....not with title insurance anyway.  

I purchased the home in 2016 on land contract filing all the necessary paperwork thru a title company and putting down 20%.

The title company will give a better estimate.

It doesn't require an attorney, just an attentive title company escrow officer who prepares the documents and handles the funds necessary to complete the transaction. 

I've just posted How to Find a Good Deal (Even if You're a Newbie) in a HOT Market here on BP (just click the title)

Is there any incentive for the bank to settle for much less than the balance to transfer title to direct buyer (assuming it costs them certain amount of money to foreclose)? 

We wanted to put our daughter's name on the title along with ours, so we waited to close until just after she turned 18 and was legally able to sign paperwork, closing in February.With help from our Michigan-based contractor, who lived in the house while working on it, we converted the 1st floor back to residential use, adding a large 6th bedroom with walk-in closet, another full bathroom, a study room, and a living room, and made a myriad of small improvements. 

I can't remember the authors, but "Millionaire Real Estate Investor" and anything with real estate in the title.

I pulled the trigger to fast and the title can not be edited once it is posted The title should be: The market just made a move, did you see it?