Priced to sell, does this make a difference?

We saw our dream home. Beautiful, remodeled, bank owned home with little-no work to do on it. It states that it is priced to sell and move in ready. My agent looked at the comps and it is priced $70k below what other homes have sold for in that community. We were the second couple to tour and we loved it so much, the agent suggest we offer aggressively by going over the asking price. She suggested $40K plus the bank pay closing cost. We offered $30K over instead and still asked the bank for closing costs. Was this a good decision or poor decision? This is our first time buying a home. We put an offer in on another home awhile back, but that was a short sale and we have heard nothing from them. But this home is bank owned and our realtor said we should hear something by the end of the week. Do you think the strategy used will be effective? or will it work against us?