Purchase a foreclosure-notice of default property through MLS

[Maurice Selva]

I found a foreclosure property on MLS that has been on the market for 381 days and was wondering if anyone has any experience in purchasing a foreclosure-notice of default property through MLS and if they can impart any words of wisdom as to how I would make offer and what kind of offer would the bank be holding off for? I would have thought they would have gotten something in 381 days of having been on the market. Any guidance or insight would be appreciated.