Hey Nicole. If a Deed in Lieu was done, the chances are very slim that you will be able to "legally" purchase the property. In my experience, it all depends on the bank. You can contact the bank and ask them. However I must advise you to consult with an attorney on the issue before hand. He or She will be able to answer any legal implications, concerns, or restraints concerning the purchase of a family members home that is now "Bank Owned."
I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.
Wishing you the best of luck,
De Vonte Williamson
Licensed Real Estate Salesperson
Proudly Serving Long Island
Coldwell Banker Residential
"I Stand Behind Getting You Results!