Hi Pam,
To give a simple answer - I'd say go for it. A house is only worth what buyers are willing to pay for it.. There is more involved than just the price. Make sure you make the other terms as attractive to the seller as possible - deposit money amount, inspections, closing date, mortgage, etc. Also, choose a reputable mortgage lender. Sometimes it will make the difference if the seller's agent can be assured that the buyer can meet commitment deadlines. The worst that can happen would be that the seller would either make a counteroffer or say no to the offer. If they reject your offer altogether, there is no reason why you can't come back with a higher one if you are sure this is the home for you. - Wed Jul 8 2009, 08:49