With so many factors involved, it's really hard to say. I always tell my buyers to write as high as they can stomach if they really want the house. Also, are you utilizing financing? The great thing about the bank you're borrowing from is that they will send an appraiser out to make sure your property will pencil out as collateral for your loan. If the property isn't worth what you've offered on it, they will let you know, and you potentially have some negotiating power to lower your purchase price down to the appraisal price. Good luck!