I'm interested in buying a bank owned property,

Posted by Deeyana on June 26, 2007 at 15:08:53:

Hello. I'm interested in buying a bank owned property.My question is how low of the asking price of a home is bank willing to go down.The Value of the home Today is about $187,000 The asking price on the home is 200,000 and the prior owner's loan was about 267,000 or so. The prior owner only had this home for a little over a year.What is my chances of buying this home with an offer of 150,000 or 160,000. I am a first time home buyer. The number of foreclosures in my area (city) is 0ver 900. Any words of wisdom will be highly appreciated.

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