Daniel is correct, there is no way to determine before hand what the bank will accept or not accept. Even the listing agent will not know the answer to that question until they submit the contract. There are also other considerations such as are you asking for closing costs or a home warranty? One last item you need to keep in mind, what type of loan are you using? Often times, you might not be able to use certain types of loans due to the condition of the home. You need to discuss these types of questions with your Realtor. If you are not currently working with a local Realtor, you can contact me at Shawnag@kw.com or (910) 309-4618.

You might as well make the best offer you can. The worse they will say is no, and then you move on. Just because they've priced it at $189,900, they could have priced it well over market value. Get a buyer's agent to represent you and have them perform a CMA and see what range they come up. Just remember, most foreclosures will need repairs, so save that $10,000 for closing costs and repairs for when you move in.

It's hard to say if you have a 50/50 shot or a 25% chance of your offer being accepted. There is no way of knowing the banks standpoint. They could have 1000 homes and need to get them off their books by the a certain time, so may take it just to get rid of it, or they could have so much tied up in it that they are willing to hold it till a better offer comes in.

Good luck, hopefully you'll be lucky and get a YES!!! (I've had banks accept offers 20% below market, so if that $189,900 is close to market, then $140,000 is only about 25% below market. But get a local Realtor - NOT the realtor listing the house - to help you determine market value.