In this market No offer should be considered an insult. There are MANY sellers that are wishing to get an offer, ANY real offer. The worst that can happen is that they say no.

Caren:
If you are represented by an agent, they can review comparables with you and present this information to the listing agent if an offer is made. If you are not represented by an agent and would like more information, you should contact the listing agent or choose someone to represent you in the transaction. There are some sellers in the area that have not faced the reality of where prices should be at this time. It is an agents job to either educate the sellers or move on to someone that has faced reality and truly wishes to sell their property. And it is your agents responsibility to educate you as the buyer as to what a good comparable offer would be on the property. If you choose to offer less, than be prepared to adjust your offer to a reasonable amount if you truly wish to buy. As with any offer, the seller can just say "no" and at least you gave it a try.
Please contact me if I can be of assistance,
Gloria Hall
Realtor
Coldwell Banker Residential Real Estate, LLC
7205 Estero Blvd
Fort Myers Beach, FL
239-293-2915
239-314-1410

I agree with Jeff and Ginny. You should have your agent present your offer accompanied by recent comparable sales information. This will allow the sellers to see what is going on in the market.

The best way to make an offer that is lower than the asking price is to have your Realtor present the offer accompanied by recent comparable sales information to "educate" the seller about the current market value. Then present the offer. All you have to lose is that they could say "no" but they might also say "yes" or they might counter offer a price a little higher or different closing terms and so forth.

Are you neighbors and worried about what these people might think about you? Is this the ONLY home that you absolutely must have? Any of these could alter your strategy a bit but you still should NOT overpay for this home. In order not to overpay or offer a price that is too far under the value, you have to know the current market value. It's still okay to offer less though. Good luck.