Beth, you should find out from the listing agent if there have been any other offers recently OR if the bank has done any recent appraisals or BPO's (Broker's Price Opinions). If that has happened then you offer will need to be in line with what the bank see's as the value of the home. If there has not been any offers then you may feel free to find what comparable homes are selilng for in the area and submit something within an acceptable range. You may want your buyers agent to do a BPO to justify the offer price with recent home sales and ask that it be submitted to the lender as part of your offer. Good luck.