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Can I offer under on this lot?

Hey, I'm interested in purchasing a small island lot that's listed at $4500. It has an assessed value of $4900 but the seller bought it four years ago for $990. I can bid under the asking price? If so, by how much? I'm new to this.

Edit to add: The assessed value has been the same since they bought it and the land has been for sale by them since August of last year. They have dropped the price from 6,000-4500 in that time span. In your experience, what could I reasonably offer with the hopes of them accepting?

submitted by /u/YoureARealCunt
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source https://www.reddit.com/r/RealEstate/comments/cbr9df/can_i_offer_under_on_this_lot/

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