Making an offer on a house

[Gili Smadja]

Hi

When making an offer on a house, single family or any other for that matter, how far off the listed price can I offer for the property. I know technically I can offer any price but my question is more with regards to what price relative to the listing price is the property still feasible to consider as an investment option? At too low a price I am going to be wasting everyones time.