Calgary duplex: is 11% below asking too aggressive after 98 days?

[MinaGale]

We are deciding tonight whether to offer on a Calgary duplex listed at C$1,613,000. It has been on the market for 98 days and needs updating. Current comparable asking prices are close, but we cannot find enough completed sales to feel confident about the actual clearing price.

We are considering opening 11% below asking, backed by clean financing and a flexible completion date. How would you explain that figure without antagonising the seller? I am also reluctant to waive inspection, particularly given the updates and unanswered energy-performance questions. Financing/appraisal protection and deposit exposure are other concerns. Are we being sensible or simply overthinking this?

 

[tradeTheGlass]

Eleven percent below is aggressive, but 98 days on market makes it defensible if the offer is otherwise straightforward. I would not write a long critique of the property. Have your agent point to the limited completed-sale evidence, the updating required and your flexibility on completion. Then let the price speak for itself. Keep inspection and financing conditions; a low price does not justify accepting unlimited risk.

 

[tidy_grain]

Before choosing the number, do you know why it has sat for 98 days and whether there were previous offers or price changes? Also, are the comparables completed sales for the same duplex configuration, or merely nearby listings? Asking prices can all be wrong together. The seller’s preferred completion date may be worth more to them than a slightly higher but awkward offer.

 

[FriendlyLens]

I would push back on treating days on market as proof that the seller will entertain 11% below. They may be patient, or the listing may have had complications unrelated to value. Submit it if that is your limit, but expect a rejection or counter.

The appraisal gap matters too: “clean financing” is not the same as certainty that a lender will support the agreed price. I would keep wording that protects you if financing or valuation fails.

 

[EarnestChart]

Separate price from defects. Offer the amount you can justify now, then use the inspection to identify material issues rather than assuming a future repair credit. If you already know the place needs cosmetic updating, the seller may say that is reflected in the list price. For the energy side, ask for whatever existing information is available and have relevant systems examined during the inspection instead of guessing from appearance.

 

[hana.slate]

Be careful with the deposit terms. The important questions are when it becomes payable, who holds it, and what happens if a properly drafted financing or inspection condition is not satisfied. Those details depend on the contract and local practice, so have your Calgary representative or lawyer explain the actual exposure before signing.

I would also avoid an unnecessarily short seller response deadline unless there is a real competing-offer concern. Pressure can antagonise more than the 11% discount.

 

[kayaksAndGarden]

A practical structure would be: offer 11% below, provide credible financing evidence without surrendering the financing condition, accommodate the seller’s completion preference, and retain inspection and appraisal-related protection. Keep the explanation to two or three factual points—98 days, limited completed comparables and updating required. If they counter, decide your maximum now, including likely work, so tonight’s urgency does not turn into negotiating against yourselves.