Reverse Mortgages and buying adjacent properties.

So I own about 10 acres in the US. My neighbor next to me recently passed away. Lived a good life, was in his late 90s. Snagged a case of Alzheimer's and had 8 weeks to get affairs straight with is family and got to hold his sons hand as he closed his eyes and went. Couldn't have asked for a better end in my opinion. He had a reverse mortgage on his home, the acre next to mine. The kids are letting the bank have the house back, as there's next to no equity left in the property. The property is 660' long and 70ish ft wide, horribly overgrown for several decades, with a poorly cared for hodgepodge home, complete with a few roof leaks and a few slab leaks. I cant imagine the house/land will be desirable by the time the bank takes ownership. However, I would love to add an extra acre to my property.

What usually happens in these circumstances? Does the bank end up auctioning off the property?

How does that process work, and is there anywhere specifically should be looking to find the property up for sale?

Is the property a lost cause, and I can assume its going for dirt cheap? I don't really have the money to purchase the place, but this isn't exactly an opportunity you get very often.