Munich condo: opening 12% below €892,400?

[simple_moss]

Keeping financing and condition protections is my main constraint; I do not want a lower price to depend on dropping either. The property is a Munich condo asking €892,400, available for only 14 days and in need of updating.

I am considering an opening figure about 12% lower, roughly €785,300. There are comparable listings nearby, but little completed-sale evidence that helps me value the required work. Would financing proof, flexible timing and a reasonable response deadline make the offer credible, or is the gap simply too large this early?

I am also unsure whether to price the visible updating into the offer and reserve repair discussions for new inspection findings. That seems cleaner than requesting broad credits now, but I would appreciate one practical next step before approaching the agent.

 

[radar.round]

Present it as a documented offer, not a verdict on the property: purchase price, evidence that financing is credible, flexible timing, contingencies, and a short but reasonable response deadline. Explain that the discount reflects the updating and uncertainty around completed comparables.

I would not waive financing protection or condition-related due diligence merely to compete. Also ask the agent exactly what “somebody else will waive it” means. Inspection, financing, appraisal gap and deposit exposure are very different risks.

 

[green_radar]

Twelve percent may still be too aggressive after only 14 days, especially if comparable asking prices are close. Clean terms do not necessarily compensate the seller for roughly €107,000 less.

Before submitting, find out what matters to the seller besides price and decide your walk-away figure. I’d put known updating into the initial offer rather than ask for vague repair credits, while reserving the right to respond if an inspection reveals something materially different. Have the financing and deposit wording reviewed for the German transaction before signing; an appraisal shortfall should not become an open-ended cash obligation.