Offering 5% below asking on a Madrid condo after 114 days

[noteTheMap]

The offer decision is approaching, and the trade-off is whether to preserve money for updates or lead with a figure the seller is more likely to accept. The Madrid condo is listed at €151,800; five percent below would be €144,210.

It has spent 114 days on the market. Nearby listings suggest the asking range is not implausible, but there are too few completed comparables for me to be confident about the likely sale value. My financing is arranged, and I can be flexible on completion.

Would you send €144,210 with financing evidence and a brief explanation based on condition, then use the inspection to decide whether any substantial issue warrants a repair credit? I plan to retain financing, appraisal and inspection protections. If the seller counters, I would rather respond to that number than weaken those protections at the outset.

 

[XaviReed]

Five percent below does not sound inherently aggressive, especially with the time on market and updating required. Keep the explanation short: the offer reflects condition and the limited evidence from completed comparables, while your financing proof and flexible timing make it straightforward.

Give the offer a reasonable response deadline, but avoid an ultimatum. I would not waive inspection protection or risk a deposit before the conditions and consequences are clearly documented.

 

[NimbleMeadow]

I’d be cautious about leaning too heavily on the 114 days. It could indicate seller motivation, but it could also mean the seller is prepared to wait. Do you know whether there have been price reductions or whether the required work is cosmetic versus potentially significant?

Also decide now what happens if the appraisal comes in below the agreed price. “Solid financing” does not remove an appraisal gap, and that could change how much cash you need.

 

[DailyCanvas]

I’d submit €144,210 with financing evidence, your flexible completion window and only a brief condition-based rationale. Keep the inspection and financing/appraisal protections explicit. If the inspection later identifies real defects, ask for a repair credit based on those findings rather than trying to price every unknown into the opening bid.

Before paying or signing anything involving a deposit, have a Madrid property lawyer confirm when it becomes exposed and what happens if financing, appraisal or inspection conditions are not met. If the seller counters, compare the extra price with the likely update costs rather than reacting only to the percentage discount.