Need advice on making a foreclosure offer

[Jean Smith]

Hello! Two years ago I bought my first dilapidated HUD home with incredible advice from you folks. House is fully renovated now and I LOVE IT (paid $34K, now appraised for $185K). It's my primary residence. Considering buying another house, this one is a foreclosure. The house I'm interested in was bought at auction for $120K in 2019 by someone. No idea what happened but it was almost immediately foreclosed on and listed for sale as a foreclosure January 2020. List price is $82K. Any suggestions on a low ball CASH offer that a bank might say YES to?

[Alan Feldman]

Banks sell foreclosed properties for appraised value in my area. Low balls, newbies and those without verification of funds and financing are frowned upon, if not just thrown out all together. The banks appraisal has to be done within 180 days and that's the price. Inspections are ok, but they won't do repairs. Closing won't be quick. Don't expect to move in or do any work prior to closing. The "trick" to getting a foreclosed bank property is to make a fair offer that has as little friction as possible. Plan for the worst, hope for the best.