Whats the difference...

[Alexander Kleiman]

..between bank owned REO and Government owned one? Is that the same process for purchasing? the property I am interested in owned by VA since 4/15/2008. Realtor's listing price is $165K, opening bid (from realtytrac dot com) is $152K and city assessor assessment is $170K.
Questions:
1. Can I offer the bid that under $150k? property needs some repairs, it will take about $20K to bring it to a normal condition. What will be a good bid in your opinion?
2. How the Realtor get payed in this situation. Is she motivated to sell it in high price or her benefits not related to the sale prise? Can I motivate her to help me out?
3. Do I need to pay realtor's fee or only the seller pays?

Please be as descriptive as possible, I am new to this kind of real estate.

Thanks in advance