Re-negotiating with a Ratified contract on a foreclosure....We have a ratified contract which was ratified on 7/19 for a foreclosure in the amount of $150K. We won out on a multiple offer situation. They gave us 5 days to do the inspection of which we did yesterday and found numerous issues that would make our initial offer amount of that $150K impossible with about 46K of work needed. Therefore, we want to renegotiate down to $125K. I know this is usual with regular home sales, but with foreclosures and banks only thinking profit, is it possible for them to go down this much or at all? What is the likely hood of this happening?FYI - The owner is Chase Home Mortgage.July 22 2010 - District Heights00YesReport 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.