Try to find sales information about comparable homes in the offer. This will give you an idea of what you should be paying for the property. Take into account the factors from above as well. This will help you determine what a fair price range would be.
Your initial offer should be near the bottom of that range. If you start too high, you could price yourself out of the home. Staying within the “fair” price range that you’ve determined will guarantee that you do not pay more than you should (or can) for the house.