The bottom line, however, is that a buyer should be prepared to offer exactly what they think the home is worth, particularly when it comes to foreclosures. Banks don't know how to play the back and forth negotiating game very well.
Based on value, comps, other offers and condition of property your offer should include those areas of research. Have your Realtor run that research and provide that to you so a solid offer can be made. Our market has heated up in that price range and as I am calling on all my clients properties prior to showing they all have multiple offers and many above asking so be prepared to move quick and potentially pay the asking price or more. Hot deals move like hot potatoes!
If you are a cash deal have your proof of funds with the file and submit sight unseen if it means being first in subject to inspection. Lots of tips and strategy required to get the deals that are great right now.
Good luck and feel free to contact me if you have questions