Freddie Mac Property: What should I offer? Needs Renovoation Too

[Felix Sharpe]

Hi everyone,

I'm considering buying a Freddie Mac property that needs renovation. Can someone please offer any insight on what I should be offering in relation to the asking price? I've read about the bidding process and the timeframe to receive offers. Simply put, I'm wondering if I can get this house for $50,000 (or even less) when the asking price is $80,000.  

For background: The property was auctioned in March of last year and has been on the MLS for about a month and a half.