Offering 12% below asking on a Madrid townhouse — sensible or too aggressive?

G

grain.brisk

Seller
Established
We want to make a credible offer 12% below asking, but there is little completed-sales evidence to support the number. The Madrid townhouse is listed at €1,017,000, has been marketed for 28 days and requires updating. Similar asking prices do not tell us where deals are actually completing.

We can show our financing position and accommodate the seller’s preferred timing. Would you give a short explanation based on the work required and the weak comparable evidence, or submit the figure without much commentary? I do not want to criticise the house or create an expectation that we will later seek credits for cosmetic work.

We have one night to choose, but I am not willing to drop inspection or financing protection if the valuation is low. What should we ask the agent before sending the offer?
 
Twelve percent below is about €895,000, so I’d submit that as a serious, specific offer rather than an invitation to haggle. Keep the explanation short: updating required, limited evidence from completed comparables, strong financing position and flexibility on timing. Don’t produce a long list of faults; sellers tend to hear that as criticism rather than valuation logic.
 
The 28 days on the market creates another question: has the seller actually rejected offers, or has there simply been little activity? I understand why the proposed €895,000 feels defensible when updating is needed, but time listed by itself does not establish that discount.

I’d ask the agent whether price, certainty or completion timing matters most to the seller, and whether the overnight pressure comes from a real competing bid. If there is no concrete deadline, keep your protections and send a clear offer with its own reasonable expiry.
 
Agreed on asking about motivation, but I wouldn’t expect the agent to disclose much. A useful question is whether the seller values price, timing or certainty most. If it’s timing, the flexible completion date may do more for your offer than adding another €10,000. Give the offer a reasonable expiry so it cannot sit open while being used to encourage someone else.
 
I’m less comfortable calling €895,000 automatically sensible just because the property needs work. Without completed comparables, 12% is still an assumption, and updating costs can be subjective.

More importantly, define what “clean financing” means. Proof that funds are available is helpful; taking responsibility for any appraisal gap is different. Before signing or paying anything, understand exactly when the deposit becomes exposed and what happens if financing, valuation or inspection reveals a problem. The wording and process are jurisdiction-specific, so have the relevant adviser in Madrid confirm it.
 
The deadline is ours, not the seller’s. The agent has only said the seller is open to offers and prefers flexibility on completion; no clear answer yet about competing bids. We’ll keep the financing and inspection protections rather than trying to make the offer look cleaner by taking on unknown risk. I also like the idea of presenting €895,000 as our evidence-based starting point, not sending an itemised attack on the house.
 
One choice to make now: are the visible updates already reflected in €895,000, or will you later request repair credits? If they’re cosmetic, I’d price them into the initial offer and avoid reopening them. Reserve any later request for material issues uncovered by inspection. Otherwise the seller may feel that the first discount was only stage one of a second negotiation.
 
That sounds measured. Include financing proof, your preferred completion range and a clear response deadline, but keep the important contingencies. If the seller counters, compare the counter with your maximum based on the townhouse and likely work—not with the €1,017,000 asking price. The main risk tonight is not offending them; it’s letting urgency set your ceiling.
 
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