Can I get some opinions please

[Richard Bader]

There is a foreclosure that I have been looking at purchasing. They have it listed for $32,000. Repaired and updated it’s probably worth about $60000 - $65,000. I made offers at $25,000 and $27,000 but the realtor handling the house, immediately said that the bank would not even look at an offer under $29,000. I made an offer on a house for $29,000 and it was accepted. I have a 10 day inspection period, so I hired a home inspector to look at the house. After the inspection it looks like the house needs 9 – 10 thousand dollars of work, if I do all the work myself. I still like the house but would feel more comfortable paying a few thousand less. My realtor is a friend and is fairly new. I asked him his opinion on trying to use the home inspection to get a better price. He said he called the bank’s realtor and they said they would not do any concessions. I still want to negotiate even after the offer was accepted because it needs so much work. Is this bad business of me? I only have a couple days left and I haven’t paid any earnest money yet, but they want it. Does anyone with experience have any advice for me? The house has been on the market for 50 days when I put the offer on it. Thank You