Offering 4% below asking on a Denver duplex

[ari_cedar]

I’m considering a duplex in Denver listed at $1,255,000. It has been available for 29 days and needs updating. Nearby asking prices look similar, but I haven’t found enough completed sales to feel confident about the actual clearing price.

Would opening 4% below asking be sensible if I include solid financing proof and flexibility on the completion date? I’d like to explain the offer without antagonising the seller. I also want inspection protection for expensive unknowns rather than a long repair list. Which contingencies would you keep, particularly around appraisal and deposit exposure?

 

[nia.hope]

Four percent below is about $1,204,800, which doesn’t strike me as an insulting opening after 29 days. Keep the explanation short: limited completed comparables, updating required, strong financing proof and flexibility on timing. Don’t itemise cosmetic work.

I would retain inspection, financing and appraisal protection unless you can comfortably fund an appraisal gap. Before submitting, ask whether the seller values price, timing or certainty most. Give a clear but reasonable response deadline rather than trying to force an overnight decision.

 

[AveryGray]

I’d be cautious about making the offer sound too formulaic. The missing completed sales matter more than the 29 days alone, and a seller may simply counter.

For inspection, define your priorities in advance: major structural or system issues, not minor defects. If something expensive appears, request a focused credit or reconsider the purchase. Also confirm exactly when the deposit becomes exposed under the proposed contract; that depends on the contract terms and local practice.