You can offer any amount, you just diminsh your chances the lower you go but at the same time you create an opportunity for a steal of a deal.

A buyer can offer anything he wants on a property that is for sale; whether or not the seller will take it is truly the question. If the listing agent is experienced and/or the property has been reduced significantly from the original price, your chances of 20% below list does not stand a good chance of getting the property. So much depends upon the area you are working in and how much loss the bank is willing to take. Prices are off the wall and no definitive answer is really possible. I would say, go for it and see what happens if you have the time and the patience.

DIxie,

A short sale means the bank is willing to take less than what is owed on it. If there are no others offers, 20% below asking may have a chance. It all depends on the property and how much is owed and how anxious the bank is to get rid of it.
Ask you agent - you should have a good agent - to research this an then make an offer.

Good Luck and hope you find something that's right for you.

Genny
pgrealty@hotmail.com