If you write an offer on a Bank Owned Property, don't expect your offer to get accepted if you write the offer more then .10% below current list. Banks will counter low offers back to full price. When a property has been on the market for 3 to 4 weeks the bank will lower the price by 5-10%. Sometimes banks will sell a property for greater then 10% below list when it is the end of the month, and you promise to close in 7 days or less and waive your contingencies. If you want a deal, then buy at the Court House Steps (trustee sale) Be aware that you will not be able to inspect these properties and must pay cash the day of the sale. If there are any liens, they would become yours. So there may be Agents that write low ball offers, but REO Agents will be less likely to suggest these agents offers to the Bank. Banks don't give away free equity.