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if I make an offer on a reo-bank owned property...how low can I make the offer?

I dont want to make the offer to low...I heard for a short sale the offer should not exeed 15% below asking price. what would a resonable offer be for an reo-bank owned? I dont want the bank to just turn me down...what would be a good low ball offer?

Public Comments

1. Stay away from the short sales. You are just bailing out the second mortage co. First find out what is owed on the house. Then offer them 20% below that price. They will say yes or no real fast.
2. a bank will not flat out turn down your offer unless it is a ridiculous offer.they will normally counter offer. consult with a local realtor to help guide you. They will analyze market conditions and the property condition to help you make an educated decision. email me, I can guide you to a good agent in your area. my company is national and we have offices/relationships across the country.