Is 10% below asking too aggressive after only 12 days?

[LongChalk]

We are down to one night, and the bigger question is now how much risk to accept rather than simply what price to offer. The Madrid coastal home is listed at €1,178,000, has been on the market for 12 days and appears to require a fair amount of updating.

We are considering €1,060,200, which is 10% under asking. Our financing is straightforward and we can accommodate the seller’s preferred timing, but nearby listings are not giving us reliable evidence of completed prices. Would you justify the offer through the condition and lack of comparable sales, or offer more and deal with specific repair credits after inspection? I do not want the response deadline to cost us inspection, financing or appraisal protection.

 

[grain.brisk]

The number is defensible if it reflects the condition rather than being presented as a negotiating tactic. Keep the explanation short: limited evidence from completed sales, updating required, strong financing position and flexible timing. Let the seller counter.

I would not waive inspection protection. Twelve days is not long, so expect either a firm rejection or only a modest counter.

 

[asha_roan]

What does “needs updating” mean here—cosmetic finishes, or work that could affect structure, moisture, services or the roof? That distinction matters more than the percentage. Also, has the seller set the one-night deadline, or is that your own timetable? If it is self-imposed, I would slow down and ask for whatever completed comparable evidence the agent can provide.

 

[LongChalk]

The visible work is mostly dated finishes, but we do not yet know whether anything more substantial is hiding behind that, which is why inspection protection matters. The short deadline is coming from the process rather than just our nerves. We have financing proof ready, although an appraisal below the agreed price could still leave a gap.

 

[trackTheWindow]

I disagree slightly with leading at the full 10% discount after only 12 days if the comparable asking prices are genuinely close. Asking prices are imperfect, but the seller may see €1,060,200 as too far away to engage. A somewhat higher opening with inspection and appraisal protection intact could be stronger than a low headline figure followed by requests for repair credits.

 

[modern_stone]

That depends on seller motivation, which is the major missing piece. Flexible completion only has value if their timing matters. Ask the agent whether the seller prioritises price, certainty or completion date, without expecting confidential detail.

Whatever figure you choose, show financing proof and make the offer easy to understand. Do not promise to absorb an unlimited appraisal gap; decide in advance how much extra cash, if any, you could safely cover.

 

[anika.page]

Be careful about combining every concession at once. A 10% reduction, broad inspection escape, later repair credits and full appraisal protection may look less “clean” than intended. One approach is to price the known cosmetic updating into the opening offer, reserve credits for significant defects discovered later, and define clearly when the deposit could be at risk. Have the wording checked for the transaction and jurisdiction before signing.

 

[birch.friendly]

Tonight, set three numbers rather than debating one: the opening offer, the highest price you would willingly pay, and the maximum appraisal gap you could cover. Then list the protections you will not surrender—inspection, financing and a clear route out if valuation or condition is unacceptable.

Submit the rationale calmly and avoid an itemised attack on the home. If the seller refuses to counter, that is useful information; raising the offer pre-emptively because of the deadline is not.