You can bid whatever you want but what you should do is have your agent run the most recent sold comps and base your decision on what to offer on what the house is truly worth. Just as a seller can put their house on the market for any amount they want (more than current market value) it doesn't mean a buyer is going to pay the price they are asking, a buyer can offer whatever they want and the seller doesn't have to accept it.
The most recent sold comps sets the current value market for both buyers and sellers.
Gina Chirico, Sales Associate
Good luck to you,
Unwavering Commitment to Service
1. comparable sales
2. how long has the house been waiting for an offer (if it didn't sell in 3 or 4 months there must be a reason)
3. does the house need any repairs or upgrades (request a copy of the seller's disclosure)
4. is it a desirable location
If you are not already working with an agent, give me a call if you would like my price opinion 973-766-4018