No set rule on this. Each property is different. What's it worth? If it is worth $300,000 than I would expect it to go over the list price with multiple bids. It might sell for $220,000. If it is worth $150,000 then perhaps it might sell at $140,000. Is it the best house in the neighborhood in move in condition or is it the worst house and needs lots of work. Some other factors that could be considerations. Are you going to live in the house, if so how long? Is this the only house you've seen that you liked? If so you might be willing to pay more for it. Are you going to use it for an investment property and if you don't win this bid, you will keep on searching. If so you might want to bid low. Your realtor can help you determine what might be an appropriate bid. Good luck and if you need help with this or other foreclosure properties you can visit my website for more information.