Glad to hear about your recent interest's in purchasing a home, you should send me a quick e-mail with the MLS# of the property of interest. This way I'll be able to some sold comparable in that area, advise you on what a intelligent offer look's like, there are many way's we can negotiate a deal.
My e-mail is: email@example.com's hooked up right to my cell so, I'll be able to get right back to you.
Thanks and I look forward to hearing from you!
If you haven't hired a Realtor, do so. (The seller usually will pay their commission so it won't cost you anything). Have your Realtor do a Comparative Market Analysis (CMA) on the property using SOLD comps that have SOLD within the last 3-6 months. This will give you current market value - this is what you should base your offer on.
You should take into consideration how long the property has been on the market and if there is interest from other buyers such as yourself. If a property has been on the market for a while the lender may be willing to accept lower offers but on the other hand if it is a desirable home, it's been on the market for only a short while, and you suspect other interest, you offer should be one that is higher than lower.....if you are serious about the property.
It may be time to form a relationship with a real estate professional, one that will be able to help you put together a plan that will help you be successful. With foreclosures and other things, "he who hesitates is lost."
Assuming, making a lower offer would be your best approach could be huge mistake....speak with a local agent!
If you have not hired one yet, start by interviewing realtors in your area. Ask them how they can help and assist you in the process to serve your best interest.
Realtor's input, guidance and assistance are valuable in this long-term investment and important pursuit.
Best of Luck