Offering 10% below asking on a Mexico City apartment

W

WorthyVale

Homeowner
Established
Either I offer close to MX$20,340,000 despite weak sale evidence, or I start 10% lower and risk the seller dismissing me. Neither feels comfortable. The Mexico City apartment has been advertised for only 12 days, but it requires updating and the nearby figures I can find are mostly asking prices.

My proposed opening number is MX$18,306,000. I can show that financing is organised and be flexible about the completion date, but I do not want that presented as an unlimited promise to cover an appraisal shortfall. How would you support the price without turning the offer into a list of faults?

I also intend to retain inspection, financing and appraisal clauses even if the agent says a competing buyer may drop them. Which protections would you treat as non-negotiable, and what would you ask about the seller’s motivation first?
 
Ten percent below isn’t inherently offensive if the offer is straightforward. I’d avoid a long critique of the apartment: say the price reflects the updating required and the limited completed-sale evidence available to you. Attach financing proof, emphasise your flexible completion date and give the offer a clear response deadline. Keep inspection, financing and appraisal protection.
 
What does “clean financing” mean here if the appraisal comes in below your offer? That gap matters more than the headline discount. Also, do you know anything about the seller’s motivation, or whether the apartment is vacant? I’d want the deposit amount, refund conditions and timing spelled out before reacting to the agent’s claim that somebody else will waive protections.
 
By clean financing, I mean I can provide proof that the financing side is organised; I don’t mean I can absorb an unlimited appraisal gap. I also don’t know the seller’s motivation yet, and I haven’t priced the updating precisely enough to demand a specific repair allowance. I’ll ask for clarity on the deposit exposure and whether there is actually another written offer rather than just general interest.
 
I would prefer a lower price now, but the obstacle is that 12 days does not show the listing has failed. If the nearby asking figures are genuinely comparable, the seller may see no reason to accept MX$18,306,000 yet.

Be consistent about the updating costs. You can reflect visible work in the initial offer, or move closer to the seller’s figure and deal with material inspection findings later. Trying to secure the full discount and then seek credit for the same work may look like counting it twice. The stronger evidence would be completed comparables or a properly costed list of necessary work, not the short marketing period.
 
Keep the offer presentation factual: MX$18,306,000, evidence of financing, flexible completion, a defined response deadline, and the contingencies that apply. Ask the seller’s agent to support the asking price with completed comparables rather than more active listings.

I would not waive inspection merely to appear competitive. You can promise not to use minor cosmetic findings as an excuse to renegotiate, while retaining protection for material problems.
 
The appraisal clause deserves careful wording. “Subject to appraisal” can still leave an argument over what happens if the value is slightly low, so decide whether you would cover any gap and, if so, cap it rather than leaving it open-ended. Deposit treatment depends on the contract and local process, so have the release conditions checked in Mexico City before signing.
 
The seller’s response will tell you more than another round of guessing. Submit the supported offer and leave room for a counter. A response deadline should be long enough for a real decision, not so short that it feels theatrical.

If the agent repeats that another buyer will waive everything, ask which term is supposedly preventing acceptance. Price, inspection, appraisal and financing are different issues. Don’t surrender all four to solve an unspecified objection.
 
You must log in or register to reply here.
Back
Top