You really need a good full time agent who has done at least 10 of these types of deals to help you through the process. If it is new to the market and in good condition it could go 10-15% above asking price. If itâ€™s been on the market for a while 180+ plus days then an offer of under asking price by as much as 50% may be appropriate. A good agent can determine market value of the home and a range for the neighborhood which will guide you in what to offer. In our area if itâ€™s priced well and in a desirable area there are several offers in the first week. When a multi offer situation arises and you want that home, a full time agent with experience in REO negotiations will provide good advice on various outcomes and strategies on negotiation with the banks. Cash offers and owner occupants carry some weight in the outcome. Good Luck!!