A question about Wachovia

I am looking at a property for sale by Wachovia bank. It has been on the market for over a year. When I went to look at it the agent could not get in. The listing agent showed up to let us in. He mentioned this property and one other that they needed to “dump” now.
My question is how flexible is Wachovia in their asking price to their accepting offers?
I am going to offer in the house, I am going to offer a little less than half of the the current asking price with a cash offer.
Just curious if anyone has dealt with them in the past.

They’re like any other bank. They will continue dropping the price on the property, the longer it’s on the market, until it’s sold.