The amount listed on Trulia is the list price. You can make on offer on the home at list, above list or even below list.
Unless you are paying cash offering below list in this market may not be a great idea.
The list price is determined by the bank and their team. These homes are often sold for less than what the home owner actually owed.
Best of luck to you!!!
Kawain Payne, Realtor
Prudential California Realty
Assuming that the listing price shown is the same as the true LISTING price;
That is probably the amount that the Bank would like to have.
It was probably derived from a series of BPOs and should reflect the Market Value.
The amount that the Homeowner was in default is really None-Ya.
You want to ignore all the numbers and, working with your Realtor, determine the most recent Market Value, by doing a CMA.
Then, knowing that you will have to compete for the property, decide what your Offer will be.