Whether it's the price the seller gave for the home or not, if this is the offer you want to make, go for it. All he can do is: reject, counter, or accept. I would expect that an acceptance is very unlikely because of selling expenses and closing costs which means the seller would have to come to the closing with money out of his pocket---many don't have the money to do that.
But to answer your question, over my 30 years of experience, making an extremely low offer HAS offended the seller at times--in the seller's mind it may not seem overpriced in comparison to others selling around it, maybe the market has actually gone up that much, or maybe he bought it at a really low price to begin with to turn for a profit, or maybe he's put a lot of money into it with upgrades, etc.----don't know the circumstances and there could be several to consider. But, if offended, the offer is usually rejected. That is the only reason, if you truly want the home, you might reconsider so that you can at least hear back from the seller with a counter.
Thanks, Max Watt, Re/Max First Place, Clovis, NM www.isellclovis.com or email email@example.com