Is 11% below asking too aggressive for this Miami studio?

[FreshEmber]

The studio has now been on the market for 48 days, which raises a new question: is that enough leverage to open well below the $1,310,000 list price when achieved-sale evidence is still scarce? The property needs updating, and I am considering an opening figure 11% under the ask.

I can provide financing evidence and accommodate the seller’s preferred completion timing, but I want the explanation to focus on the limited completed comparables and renovation cost rather than criticising the property. If inspection finds only the updating I already expect, I would not seek a second discount through repair credits; if it reveals a material defect, I would want room to renegotiate.

Would you retain inspection, financing and appraisal protections in full, and how would you structure the offer without increasing the deposit risk merely to make the lower number look stronger?

 

[yara_voss]

Make the offer about evidence, not a verdict on the property. Include proof of financing, the few relevant completed comparables you can obtain, and a short response deadline. Before submitting, ask whether timing or certainty matters more to the seller than price.

I would retain inspection and financing protection. If updating is already reflected in your price, avoid also demanding broad repair credits unless inspection reveals something material.

 

[kai_trades]

I’d be cautious about presenting 11% as if the available comparables prove it; you’ve said yourself that the completed-sales evidence is thin. The seller may simply counter, which is not the same as being antagonised.

Also clarify what “clean financing” means. If the studio appraises below the agreed price, are you willing and able to cover any gap? Don’t waive appraisal protection or increase deposit exposure merely to make a low opening number look stronger. Set your maximum first, then leave room for one or two measured counters.