How should I frame a 12%-below offer on an Austin multifamily?

A

AveryGray

First-time buyer
Established
The 92 days on market gives me room to negotiate, but the lack of solid completed comparables worries me. I’m considering a small Austin multifamily listed at $360,000, with visible updating required and one previous deal already fallen through.

Would $316,800 be a credible opening if I support it with proof of financing, the available comparables and flexibility over closing? I want to give the seller a clear basis for the 12% reduction rather than make it sound arbitrary. I also need to choose a sensible response deadline and decide which terms cannot safely be traded away. Inspection, financing and appraisal protection currently seem more important than making the offer look unusually clean, especially until I know why the earlier contract failed.
 
The number is defensible as an opening, but I would not present it as a verdict on the property. Tie it to the limited completed comparables and the updating required, then let the clean financing evidence and flexible closing date strengthen the offer. Keep inspection protection. A long response deadline may weaken the impression that you are ready to proceed, so make it clear but reasonably short.
 
One important missing fact: why did the earlier deal collapse? Inspection findings, financing trouble and a low appraisal would each change how I viewed the risk. I would also decide now whether you can cover any appraisal gap. If not, preserve that protection and make sure you understand when your deposit could become exposed under the contract.
 
I’d be careful about requesting repair credits at the same time as starting 12% low. Inspect first, then choose whether a serious defect justifies a credit or walking away; stacking every concession into the opening may make the seller dismiss it. Ask for the best available completed comparables, submit financing proof, state a firm response deadline, and keep the inspection plus any financing/appraisal protections you genuinely need. Have a local agent or attorney explain the deposit terms before signing.
 
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