Advance Realty Specialists
You sound like you could really use the help and guidance of a buyer's agent.
They will show you what similar homes have sold recently..... and what other homes are currently on the market in that area.
The closed sales they will use are called "comps", and they will help determine what a fair market offer or value might be.
They will also help you get pre-aproved for a loan, if you haven't already done so, because without that, you're not even ready to make an offer.
This is too big of a sale to enter any negoitaitons without having the right information, and you don't seem to have that as yet.
That is a great question and is always one that buyers ask when they are thinking of writing up an offer! Many times I will have sellers I represent tell me that they won't go below a certain price point, and then an offer comes in that is well below that price they said they won't go below - and we get it worked out! Other times, the seller holds firm to their price point! That being said, without knowing what the seller's motivation is, it will be hard to know just what their bottom line is. I usually recommend that you have your Buyers Agent run you a market analysis to see just how well the property is priced at right now, and then decide, based on the market value/condition/location and repairs what you want to offer. Depending upon the offer, it is possible to go too low and insult the seller, but sometimes you can get it worked out! Good luck - and feel free to let me know if there is anything I can do to help you! Have a great day!
Like Debra said, you need the help and guidance of an (experienced) buyer's agent. I am happy to meet with you to discuss the home buying process. We will visit the property together, look at comparable sales for the property and then craft an acceptable offer. Contact me @ email@example.com.