If I found a house that is bank owned and the asking price is say 35,000 because that is whats owed. will they also come off of that if house is worth 65,000, also do most people suscribe to websites for ss such as realtytrac or hudforeclosures. Thanks so much!
For hud foreclosures you can just get them from the hud site directly, I wouldn’t pay for any service. www.firstpreston.com
HUD will take discounts, but they aren’t going to give anything away (usually). If there is 35K owed but the property is easily worth 65K, don’t count on it.
If it is on the hudforeclosures site with an asking price of 35,000 and it says you can make an offer, what would you guys with experience offer the bank?? Thanks for any help! I have been reading for weeks but still green.
The asking price should not be your focus. You want to figure ARV (After repair value) and the cost of repairs. Based on that information you can decide what your offer should be.
What if it came to be more than they were offering ? or could it? If the house is appraised at 65,000 but their asking price is 35,000 I don;t get what to offer them. It has about ten thousand in repairs. Sorry to seem so clueless, I will get this, it still a little cloudy though now. 
There are lots of different formulas, but here is a typical one for that price range.
ARV - $20,000 - repairs - wholesale profit = offer
In your example.
$65,000 - $20,000 - $10,000 - ??? = offer
So, if you want to wholesale for $10,000 your offer would be $25,000 and if you want to only make $5,000 you could offer $30,000 or if you plan to rehab yourself $35,000 could be your offer.
Keep in mind, this is just one way to figure it, a lot will be depend on your area and the demand for this property.
If it’s at 35,000 right now, I’d be concerned why it hadn’t moved yet unless it is a fairly new listing.