REO Home. Bank will pay my closing cost, but does that mean I cant offer less than the asking price?I found an REO home I want to purchase. The bank has stated they will pay my closing cost. The home is $137,900 and I was wondering if I can put an offer in for $130K + closing clost. Is this ok on an REO? I have already asked my realtor&he did not recommend it as the bank is already offering to pay closing. What do you think? The home has been on the market since 10/1/08. No offers in at this point. Zillow est is $185K.December 24 2008 - Buckeye00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.