These are all very good points. There is no such thing as too low an offer, however, you must do your research. The banks do what they call a BPO on a foreclosed property, and will have a very good idea of what the true value of the property is in the next 30,60,90,and 120 days. It sounds to me as if they are putting the value on the land. However, a licensed buyers agent can help you determine what the true value of the property is. The first step would be to speak with a lender or a lending broker. A lending broker will help you search from the best rate and loan available for you. Also, purchasing a mobile home has different financing terms than a single family or condo home would. Mobil homes are a higher risk for a bank, so they will charge higher interest rates. Best of luck!