Offering 2% below asking on a coastal home in Seoul — sensible or too aggressive?

[bikesAndEcho]

A 2% reduction from the ₩1,421,000,000 price is the figure I am weighing, but I do not want to choose between offering full price and making an unsupported low bid. The home has been listed for 65 days, requires some updating, and the comparable evidence I can find consists mainly of current listings rather than completed sales.

Would it be better to make the discounted offer conditional on satisfactory appraisal and checks, supported by evidence that my financing is ready? I can also accommodate the seller on completion and set a reasonable response deadline. My aim is to allow for costly unknowns without presenting a catalogue of cosmetic faults, particularly if the valuation comes in low or the deposit would be exposed.

 

[theo.reed]

Two percent is not inherently aggressive after 65 days. Present it as a workable opening based on the updating required and limited evidence from completed sales, rather than as a verdict on the property. Attach financing proof, offer the flexible completion date, and give the seller a clear written response deadline. Those terms make the price easier to consider.

 

[kite.mellow]

I would first ask why it has remained available and whether the seller values speed, certainty or a particular completion date. Similar asking prices tell you what other owners hope to receive, not what buyers actually paid. Could your agent obtain even a small set of relevant completed comparables before you decide how firmly to hold the 2% discount?

 

[learnTheMap]

I’m less relaxed about calling it a clean offer. Financing proof is useful, but it does not eliminate an appraisal gap or final lending conditions. I would not waive financing protection merely to make 2% below asking look stronger.

Keep inspection rights focused on costly matters—structure, water intrusion and major systems—while making clear that cosmetic updating is already reflected in your price. The exact contingency and deposit wording should be checked for the Seoul transaction rather than assumed.

 

[lookTheRiver]

One practical structure is: offer price, financing evidence, flexible completion, inspection limited to major defects, and an expiry time. If inspection uncovers something substantial, allow a repair credit or renegotiation rather than demanding a list of fixes. Also spell out what happens to the deposit if financing or appraisal fails; that exposure matters more than winning a small concession. If the seller counters near asking, you can then decide whether better terms compensate for the narrower discount.