You do have to be careful buying used, especially with aluminum bikes that nothing is bent, so you have to make sure the front and rear tire are perfectly centered between the fork blades and the rear stays. Make sure there are no dents or creases in the tubing or on the fork. If the bike has a lot of miles on it I would avoid because aluminium does fatigue unlike other materials, so look at the rear and front gears, if they're short and pointy then it has a lot of miles, sometimes just the front will be like that because they replaced the rear gears, so if either or are that way move on.
According to Bicycle Blue Book if that bike is in near mint condition it shouldn't go for more than $245, if that is the case I would offer $200 IF they are asking $245 and see what happens; if the bike is in excellent condition the most it should sell for is $233 which means I would offer $190; if the bike is less than excellent I'm not so sure I would buy it because it is aluminium and if it's only in good to fair condition that usually means high miles so I would stay away. Whatever price they're at I would offer about 40 dollars less than the asking price and see what they do. The prices I mentioned for selling at (not the bid price) is the most they should be asking, if they're asking $400 walk away or just offer $200 and see what they do, but they'll probably laugh which is fine.
The bike is about 5 years old and came with low end Shimano Acera components, with low end components the bike isn't worth $400 or even $300.
http://www.bicyclebluebook.com/searchlistingdetail.aspx?id=24621