If the listing is relatively new to the market, it is very possible that the bank will not deviate much from its asking price. You will have greater negotiating power if you make offers on homes that have been on the market for longer than 30 days. Here are more tips:

• Banks negotiate bulk-rate discounts with title and escrow companies. If you elect to use the bank's title / escrow company, check the fees those companies will charge you. Generally, fees not paid by the bank but paid by the buyer will be higher because title and escrow often make up those discounts by charging buyers more.

• Many banks are moving away from paying typical closing costs for the buyer. Some fees such as transfer taxes, county and state fees, are borne by the buyer and not the bank. Banks do not often pay for pest reports, repairs or home warranty plans.

• Some banks will not sign a counter offer until all terms are mutually agreed upon between the parties verbally.

• Expect the bank to draw its own purchase contract or addendum to your standard purchase contract. Read it thoroughly and ask a real estate lawyer for advice if you do not understand it. You can bet the bank's lawyer drew up that contract, and it's not in your favor.

• If the bank won't budge and you receive an offer rejection, wait another 30 days and then resubmit your original offer, with the original date crossed off and your new date inserted.

• You might wait 10 days for a response to your offer from the bank. Be patient.

• The bank may ask for you to submit a loan application so it can prequalify you; however, you are not obligated to obtain your loan from that bank.

• If you cannot close by the predetermined closing date, the bank may charge you a penalty for each day you pass that date. Make sure you have a loan preapproval letter from your own lender before submitting an offer, and get assurance that you will receive the financing from your lender without running into unexpected delays.

• You will likely be asked to buy the home "as is." There are drawbacks to buying foreclosures. Make your offer subject to a home inspection. Some sellers in default strip assets from foreclosure homes.