Absolutely....however, the degree to which the lender is willing to negotiate will vary depending upon the circumstances. One thing is for certain....an offer that is anything less than the asking price may be better received if it included records that support your offer, estimates, documentation of necessary work, photos, sales information, etc.
In the event this is a highly desirable home with a number of interested buyers you may wish to consider your position carefully and not eliminate yourself from the chase too soon by making an offer that will not get the bank's attention.
you would be negotiation through agents with the actual property owner....
But to the question can you, the answer is yes, will it get you the property is another question.
Edith YourRealtor4Life and Chicago and Northern Illinois North Shore Expert
Working always in the very BEST interest of her clients, buyers, sellers and investors alike
I always explain to my clients not to get hung up on the asking price and how much off of the asking price they can get. They need to look at the whole picture, such as what is the home worth (in today's market, of course).
Good luck to you.
Goodwill Realty Group
If you like it, put the offer in - all they can say is no or counter offer. But please do yourself a favor and use a professional Realtor to help you - not the listing agent. Banks are often difficult to deal with and you need someone in your corner to advise you. It doesn't cost you anything and you will save yourself time and heartache.
A true "forclosure" is a property that is sold at auction (because the mortgagee defaults). The lowest offer price prevails at auction.
"Short sales" on the other hand are not sold at auction and are typically negotiable.
For a quick read, click on this article which explains some of the details for different types of distressed properties... http://www.homefieldrealtors.com/Web/AR419461/CustomContent/
Home Field Realtors