Not knowing the exact property you are referring to, I would submit that you should offer a price that is a combination of what you are comfortable with in terms of financing (should that be the case) and more importantly based on what the local market has had in terms of similar closings in the area.
Additionally, you should be aware of the type of sale, ie: short sale, bank owned, auction, etc...
These variables will affect the manner in which you make your offer as well as the timing or time jt takes.
There are other things to consider but this should help with the decision process. I'd be happy to help you out if you like at no charge to you.
Enjoy your weekend!