REOs thats been on the market for over a year!

[Renel St. Fleur]

I was curious about this. If an REO property has been on the market for over a year, then I am going to assume that the banks are very motivated to get rid of this property.

My question is, would they still want and EMD on the property even though its been listed for 300+ days, or would they let me purchase it without the EMD. I know someone that has made an offer on million dollar REO property and he didnt put a single dollar in as a deposit. What other things can I use? Can I guarantee that I want to close within 2 weeks? Can I also consider paying all closing costs even the seller's closing cost, since I plan using transactional funding for my deals.

Has anyone tried this?