looking for advice on this deal

[Sarah S.]

located a property I'm interested in buying. Property value $260,000. Asking price is $125000. Estimated repairs come in around $45,000. This property is due to go to auction on march 18th so I submitted an offer today for $90,000 cash. Received an email back stating the offer was too low and to resubmit. Financing is being considered for this property so I'm wondering if I should finance it but do not want to go about the asking price is this time is 110,000 reasonable? Or would you go higher. the property is located on a golf course in a very desirable neighborhood. Comps are between 350,000 to 600,000 in the immediate area. My first question is what you do this deal? And if so,what type of offer would you make? I have proof of funds available for the cash, and pre approval ready for financing so either one would work.thanks for any advice you can provide.