Negotiating with a Bank Foreclosure

[Alex Ng]

I've been trying to buy a Bank foreclosure. I submitted many offers but they were all rejected. the Property has sat on the market for 6 months now. They seem to drop in price every month. I submitted an offer 7k from asking and it was still rejected. I'm thinking of resubmitting a new offer 5k from asking but the month is almost ending, they might drop the price again. Can anyone give me some tips on how to negotiate with the bank?