US Bank Cash Offer Strategy vs. Contingencies

[Laurie Isabell]

I would like to submit a cash offer on a house owned by US Bank NA- Trustee for MECA 2011-1.  It is listed with an agent and from what I can gather from the situation is that there are two other offers on the table, both contingent on inspection, appraisal and financing, but one perhaps a little higher than asking, none of which have been accepted yet and are considered "best and final" by bidders.

How should this affect my offer strategy?  I really want the house, but also know that the bank already had one deal with a financing contingency fall through and I am surprised they are even entertaining offers with financing at this point.  Then again, they don't know about my potential cash offer yet.  The asking price was just reduced from $134k to 109k after the first deal fell through.  Before knowing about the competition I was thinking of offering around $85/90k with zero contingencies, close in 14 days.  Now I am thinking I need to go higher.  I appreciate your expertise in what to do.  I don't want to undervalue what I am bringing to the table, but have never bought a foreclosure outside of Auction.com where I know where I stand in real time.  Thanks so much, I am going in with a bid tonight so they see it in the morning!