Thanks for writing. It is very difficult to advise you on how much you should offer the bank of the house is listed at $450,000.
The reason is offering price on a house really depends on quite a few things such as:
- How reasonable the listing price is (considering it;s a foreclosed home)
- How many other similar homes are on the market
- How desirable this home is compare to other homes (bank owned or not)
- How long has this house been on the market after the bank assumed the home (which is quite different from how long the house has been on the market when the previous owner tried short sale and was not able to sell)
- How many other offers there might be (we have heard multiple offers on bank owned properties recently, but this might not be your case
- How many houses this lender owns
As you can see, how much to offer on a bank owned property is difficult to tell and I am sorry that I am not able to help. However, if you engage a local realtor's help, s/he will be able to provide you with better idea on how much you can and should offer for this particular property you are interested in.