The last several REO(foreclosures) I did their was a great discount one that took place just this week the property was originally listed for $99k and they brought it down to $64,900 and we have a contract in place for $62K with the bank paying all of the closing cost the client was approved at his local bank with a interest rate of 6% with a APR of 6.4% I made a phone call to Mortgage guy I know and got him 5% with an APR of 5.3% The one before that was listed at $89,900 and we got it down to $59k at the end of the day with the information I have right know I can't promise what you can get the house for. But I can promise that I will have your best interest at heart and I will work to not only get you the best deal possible on the property but insure you get the best deal possible on your Mortgage. I was in the mortgage industry for over 10 years and it sounds to me like the reason you have a limit of 72K in because of your DTI (debt to income) not your credit and I know of several Government programs that will make this property affordable. So if this is the property you want I will work on two fronts the price of the property and the payment on your Mortgage Loan. Please visit my website or give me a call anytime.
Your realtor can help you put a strong offer together, You never know what they will accept until you put an offer in. You have many options to put together a strong offer that can be accepted.
Contact me if you have any further questions.