Offending people should not be an issue. It’s business. I have been buying and selling property in Spain for almost 30 years. Be ruthless. For example I have offered 70% less on repossessed property to banks. Admittedly for multiples. All last year they turned me down after protracted negotiations. Now they want to play. This time I’ve turned them down. The markets too risky.
Point is in this market you can offer almost anything. It depends on the amount of debt the property carries. If I were you I would start with the banks portfolios and if anything goes wrong you have some comeback.