Want to buy ss, but seller agent says list price is lowest

[David I.]

I found a home that is a short sale and am considering putting an offer in. 

My agent reached out to the sellers agent and she said the list price is the lowest the bank will accept. 

I find this hard to believe. 

One they already have a negiotaor assigned to the loan packet, foreclosure is slated for early December and banks never want to be a landlord. The fact that they have a negiotaor tells me they have already agreed to accept less than the origibal loan amount. 

The home is located in Dallas, tx and the bank is  bofa. 

Is there a way for my agent to find out the loan amount of the home?

Thank you. 

[Steve Vaughan]

The Notice of Trustee/Foreclosure Sale should be public record. It will outline how much is owed in arrears and fees and what the principle balance is,

I would just offer what works for you.  If it doesn't work, at least you tried.  What is owed the bank isn't all that relevant since they know it's worth less than that.  Most I've seen are short-selling for around 80% of what's owed.

I had a long chat with a seasoned (91 yo) seller  the other day.  He told me exactly what he wanted as a PP, DP, interest rate and term on a couple places as a package.  I thought about it and mailed a letter of intent for what works for me.  He called and said no thanks for now, but at least I tried and can only do what I can do, ya know?  We had a good laugh over the phone and you never know.  Just offer what works for you and try not to worry so much about what the bank or the LA says it will take @David I.!