Getting a Deal on a REO

[Sree Kanala]

Hello all... I am brand new to the Real Estate and I have some liquid cash with which I want to taken advantage of any good deals on a Cash purchase.

I came across a REO which was put on sale for 390K, The market value for that type of house is around 450K to 500K.

I looked around the property and in my opinion the property may need a significant rehab that may be somewhere 70K to 100K, so I put an offer for 260K but the agent pushing me back to get something close to 390K.

I am wondering is there anything we can do to attract them for the Cash buy?