How low of an offer would you go on foreclosure?

[Kel S]

I know a lot of factors are involved in the amount you offer on a property. But lets talk about foreclosures specifically. How low would you go in your offer? For example let's say there is a foreclosure listed for $80k. House is in good shape and maybe just needs interior painting and little things. The numbers would look good if you could get it at a lower price. Would you offer $65k? Or lower even?

I guess what I'm asking is at what point would you not bother to low ball because it would probably be a waste of your time? Have any of you offer $10k-$15k or even less than what the bank is asking and it was accepted?

There are a few houses I wouldn't mind putting an offer in on but they are about $15k-$18k over what we could afford for a cash offer and prefer not to finance. Should I throw a low ball offer out there anyway? Or would I be wasting my time and our realtors time doing that?