short sale equity

I’ve put an offer on a short-sale close to the beach in Florida. The owner has 370k left on the note, the bank is asking 310K and Im offered 270K. The appraisal is being done but I estimate the house to be worth around 320K.

Is it possible to get a mortgage for 280K(270K for the house, 10K for the closing costs) if the house is worth over 300K?

Or Would I have to close with a 270K mortgage and then refinance for more?

I plan on living in this house and keeping it long term.

I realize that the market is still going down, but I would have a 30/40K net. Any feedback is welcome.

The bank is going to accept as close to market value as possible and reject anything else.

No you will not be able to do a seller concession - meaning buy for 280k and use 10k toward your closing costs - not with a short sale.

Again - the bank will want market value.

What makes you think the property is worth 320k?