I'm looking at buying a repossessed home here in WA. My uncle is a mortgage broker & is working on my finance application, to be put in today, with my dad as guarantor for 20% of the loan.

My uncle owns a decent amount of real estate, but all in NSW. He knows the market & how things work quite well over there, but not so much here.

Now, first of all, the house has an offer closing date. This Thursday, the 18th. When I spoke to the RE yesterday, he said he is expecting 2 other offers, as well as myself. I take that to mean there have been no offers as yet, and that one or two others have looked at the property.
The property was on the market for $129 000. They had an offer of 115 that fell through. I was hoping to put an offer of 80 in, but my dad is insisting 60.

The house next door was sold in the same way. They wanted around 40 000 for the property & let it go for 21 000, because that was the offer they got on the day.

Going by this, maybe offering 60 is reasonable? I thought they'd just laugh me out the door, but dad is insisting that no matter what my offer, the RE needs to present it to the vendor.

The RE's wording tells me that under 100 would expected.. he asked what sort of offer id be willing to make, I said between 70 & 80. His reply was 'I'd be going closer to 100 than 70'...

All I can do is guess what that means of course, lol.

I'm hoping someone can give me advice on what is acceptable considering the property is a mortgagee sale. I have the offer & acceptance form here ready to fill out...

Some support & encouragement would be a bonus too. I'm so nervous. Trying not to get my hopes up, but I want this to work!