Negotiations with seller.

[Malcolm Brown]

First off, I would like to say that i have successfully launched my first marketing campaign, and I am feeling very excited.

~first call from a seller~

A day ago, I received call from a seller I sent a letter to. He said he had a offer for 60k from another buyer. He also stated he had the property apprised and the appraisal was for 120k. The property is set for foreclosure the beginning on Feb. What I didn't find out was what was needed to be done to the property. How should I handle those situations if an offer is on the table? How can I be better prepared to negotiate those type of deals, in such a short notice?