What's a safe offer to submit to a bank on a foreclosed home? Looking for experience not guesses!?

Have your agent do a BPO for you. Offer 85% of that. My experience is that is as low as they will go. People here telling you that banks will not take less then owed are ignorant and obviously not really buying property. What was owed is not at all relent to what the banks will accept for an offer. They do tend to price them right at the BPO price, but they may have old data, have your agent do the BPO.

Banks are typically looking for an offer that's at or near the listing price. Usually when a bank takes a home back, they have invested additonal money into the property such as upkeep, maintanence and property preservation. They're goal is to make themselves whole.

Some banks will also have an appraisal done on the property by one of their appraisers. Not always, but do ask as this can give you an idea of fair market value.

Also check www.realtor.com for active listings in the area to see where they're priced.

Depends on the home, also be sure to do your homework on the home its self. There are alot of things that could be wrong with a house. One thing to really pay attention to is just how long the house has been vacant. Certain things going a long period of time without being ran or used can go bad. But im no expert that's the only advise im able to give.

It really depends on the real estate market where you live.

Are homes selling slowly or quickly?

If the market is slow, write an offer 10% below what the comparable sales are in the area.

If the market is strong, stay near asking price.

You offer the asking price otherwise you do NOT get the house. Lenders do not accept less then what is owed.