That word doesn't exist, especially when dealing with a bank-owned property and an asset manager.
Besides, who cares? If you're waiting for a dinner party invitation from the asset manager, I've got some disappointing news for you.
Look: Forget the asking price. Yes, I said forget it. Forget what the trust deed amount was. And, though you didn't ask, forget what the tax assessment is. Forget what the house was appraised for when it was last sold. None of that matters.
The only thing--the ONLY thing--that matters is: What is the house worth today, in its present condition? That's it. It's really that simple. You determine that number. A good Realtor can help. Then you pay no more than what it's worth today, in its present condition. Perhaps you offer less. Your Realtor can provide some strategies for making offers.
That's how to do it.
Hope that helps.