How low can you go on a foreclosure property?

It has been over 70 days the home has been on the market and the bank bought it for a certain amount and they are asking 30 K more than they purchased it for. One thing about this property is that it is very small like less than 500 ft.² and although it’s not ideal, in the area that I am in it is possibly the only thing I would be able to even afford. I’m only one person so I think I can make it work in a small place like that.