Offering 11% below asking on a Rio condo — sensible or too aggressive?

M

mae_park

Homeowner
My preferred outcome is to buy the Rio condo at a price that reflects its condition without turning the opening bid into a personal criticism. The obstacle is the evidence: it is listed at R$2,800,000 and has sat for 117 days, but I have not found enough completed transactions to judge the comparable asking figures.

I am considering R$2,492,000, or 11% under the list price. I can support the offer with financing evidence and flexibility on completion, so would that be a credible package? How would you explain the calculation and set a response deadline without bidding against yourself?

The agent also says another buyer may waive “it” but has not identified the condition. I need them to distinguish inspection, financing, appraisal and deposit exposure. Which protections would you keep even if a narrower condition could make the offer more attractive?
 
Eleven percent below is defensible as an opening, particularly after 117 days, but present it as a complete package rather than a verdict on the condo. State the price, financing proof, flexible timing and a reasonable response deadline. Ask the agent to support the asking price with completed comparables. If the seller rejects it outright, you have learned something about motivation without bidding against yourself.
 
First make the agent define “it.” Inspection protection, a financing condition and an appraisal shortfall are three different risks. “Clean financing” should mean organised proof and a credible path to funds, not that you promise to complete regardless of whether financing is approved.

Also, how much updating is cosmetic, and how much could affect your willingness to buy?
 
I think the 117 days are being given too much weight. A long listing period can indicate an ambitious price, but it does not prove an 11% discount is the clearing price. Without completed comparables, R$2,492,000 is still partly a negotiating number.

I would ask for the best evidence supporting R$2.8m, then decide your maximum privately. Don’t turn every visible update into a line-item deduction if buyers would reasonably expect to renovate to taste.
 
Seller motivation matters more than whether 11% sounds polite. Flexibility on completion may be valuable if the seller needs time, but irrelevant if price is the only concern. Have the agent present the timing and financing proof alongside the number, with a clear but workable expiry. A deadline keeps the offer from becoming a standing backup while the seller searches for someone higher.
 
I would not waive an inspection merely because the agent says another buyer might. If defects emerge, decide whether to walk away, renegotiate the price or request a repair credit, subject to what is workable in the local contract.

Be equally careful about the appraisal gap and deposit exposure. Before signing, have someone familiar with Rio transactions explain exactly when the deposit can be retained and how financing, appraisal and inspection conditions operate. Those details matter more than making the opening offer look unusually clean.
 
This helps. I’m going to ask the agent to put in writing exactly what they mean by waiving “it” rather than respond to a vague warning. I’ll also request completed-sale evidence supporting R$2.8m.

My current plan is to offer R$2,492,000 with financing proof, flexibility on completion and an explicit response deadline. Inspection and financing protection stay. I’ll separate cosmetic updates from anything an inspection identifies instead of presenting a long renovation wish list.
 
That is a stronger approach. One caution: don’t let “repair credit” become a second attempt to obtain the same 11% reduction. Your initial price can reflect the condo’s visible condition; later negotiations should be reserved for material findings you could not reasonably assess before the inspection. That distinction makes your position easier to defend.
 
There is still an appraisal question. If the lender’s valuation is below the agreed price, would you cover the difference, renegotiate, or withdraw? Decide that before offering and make sure the wording reflects it. Financing approval alone may not address a valuation shortfall, and proof that you can finance R$2,492,000 does not mean you should accept an unlimited gap.
 
I agree about setting an appraisal-gap limit privately, but I would not volunteer that limit in the opening offer. It could tell the seller how much room you have. Keep the offer straightforward and ask whoever prepares or reviews the contract to ensure the financing and valuation language matches your intended exit rights. Jurisdiction and contract wording will matter here.
 
One final point on the response deadline: make it long enough for a real decision, not so short that it looks theatrical. The useful sequence is offer, written response, inspection, then any evidence-based discussion of defects. If the seller counters, compare the counter with your predetermined maximum and expected updating costs—not with the R$2.8m anchor or the agent’s claim about another buyer.
 
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