High offer to negotiate later?

[Brian Varmuza]

Hello, I have heard of a strategy that goes as follows. On an REO property with other offers when trying to negotiate with the bank you present a strong offer to hopefully go under contract with an inspection contingency and then try to get the price down after the inspection. Has anyone heard of this or done it? Is it a method that works or has potential to work? I guess the theory is to beat out the other offers in hopes you can get the bank to come down after or then just walk away. Any input would be great!