The "bottom line price" for a Bank, is as confidential, (maybe more so) as it is for a normal sale:
Would you disclose your "bottom line price".
You will probably find that the Bank's BLP is somewhere around Market Value; you can find out what Market Value is by enlisting the air of a Reator in doing a CMA.
If the Market Value is within your reach; then you will have your answer.
Yes! FHA can be used to purchase some REOs: The problem is, that FHA inspections are rather stringent and if the house has some problems....
Well, talk to your Realtor.