Yes it is possible but realistically if they have purchased the home as their primary residence with a lender it would be subject to pre-payment penalties on their loan and therefore not a viable option for the time being.
The best thing to do is keep an eye out on the listings that do pop up in the area and be ready to offer your highest and best. I would also work with a local agent to help you find what you need with similar characteristics so you will be the first to know when a property comes up.
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