Offering 12% below asking on an Athens mixed-use building

[jazzAndPlan]

Twelve per cent below the €841,800 asking price would put my offer at €740,784. The Athens mixed-use building has been marketed for 103 days and requires modernisation, but the available nearby evidence is mainly asking prices rather than completed deals.

My financing is arranged and the completion date can accommodate the seller. Before presenting the discount, I want to understand which fact matters most to them: price, speed or timing. Would you support the figure with the renovation budget and valuation risk, or keep the explanation shorter and lead with certainty of financing?

I also need a sensible response period and clear conditions. If a defect is already known, I would price it into the offer; if the inspection reveals a material new issue, I would then consider a credit or renegotiation. Inspection, financing and valuation protection all seem important, along with explicit terms for what happens to the deposit if a condition is not met.

 

[drawTheTrail]

Present it as a documented starting point, not a verdict on the property: limited completed comparables, the updating budget and the risk of the valuation falling short. Include proof that financing is credible and emphasise your flexible completion date. A clear response deadline can prevent the offer drifting, though I would avoid making it unnecessarily tight.

Keep inspection and financing conditions. Also spell out what happens to the deposit if either condition fails rather than relying on assumptions.

 

[book.earnest]

I’d be cautious about leaning too heavily on 103 days or the need for updating. Neither proves the seller will accept 12% less, especially if the comparable asking prices are close.

The missing fact is the seller’s motivation. Can the agent indicate whether price, speed or completion timing matters most? For a mixed-use building, I’d also want the inspection and valuation to reflect the whole property, not just its residential portion. Price known defects into the opening offer; reserve repair-credit requests for material issues discovered later.