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Bank owned property -looking for advice

I am eyeing a very small condo in a huge apartment complex that is bank owned. The property has been on the market for a while. It has had a recent price reduction. In looking at the deeds on this place it looks like a very old man lived in the condo and had a reverse mortgage, he passed and his estate sold the house back to the mortgage company for 1 dollar. The condo is small and needs work but the work looks manageable.

My goal in getting this place is to help my son who is partially disabled get started. He can't do it on his own and we are in a high cost of living area so this might be our chance.

I don't know the mechanics of buying this sort of place and am looking for advice.

submitted by /u/KindLion100
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source https://www.reddit.com/r/RealEstate/comments/1hj9g3u/bank_owned_property_looking_for_advice/
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