If there's an opportunity for close to risk-free arbitrage then you should probably take it. Just keep in mind that just about every full-service broker in the business will be aware of the bidder's offer and will be ready to snap up any arbitrage opportunity. I don't know if you use an online broker or not, but if you do, you stand almost no chance of front-running a full-service broker. In other words your chance of making a near risk-free arbitrage is very small.
In reality the market sell price is going to stay pinned at a slight discount to the bidder's offer price and will crawl towards the full offer price as the offer close period approaches. The difference in the bidder's offer price to the market's sell price will reflect: forex risk, the risk of full acceptance and the time value of money, which is not much these days.
There's no guarantee that the bidder will sweeten the deal so hoping for more than the current offer price is not a fait d'accompli and is not without risk. Personally, I'm up for it, but I go into it knowing that the deal may not be sweetened or the bidder could walk away and I'd likely get nothing from the VA process. It comes down to your appetite for risk and opportunity cost.
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