Offering 7% below asking on a Barcelona condo after 70 days

S

sasha.calder

Property investor
I’m considering a condo in Barcelona listed at €1,127,000. It has been available for 70 days, needs updating, and one previous deal collapsed, although the seller is apparently not desperate. Nearby asking prices are similar, but I cannot find enough completed comparables to judge the actual clearing price.

Would opening 7% below asking be sensible if I provide financing proof and offer a flexible completion date? I want to explain the condition and limited sales evidence without antagonising the seller. I’m also unsure how long to leave the offer open, whether to seek repair credits later, and which inspection, financing, appraisal and deposit protections should remain non-negotiable.
 
Seven percent is defensible as an opening, not an insult, provided the offer is presented as a complete package. Keep the rationale factual: updating costs, uncertainty around completed sales and your ability to accommodate timing. Don’t imply that 70 days means they must sell. Include financing proof and a clear but reasonable response deadline. I would not waive technical inspection or legal review merely to make the price more attractive.
 
Do you know why the earlier deal collapsed? That could change the whole approach. If it was financing, your proof matters more; if it involved the condo itself, inspection protection matters more.

Also ask your lender what happens if the appraisal is below the agreed price. How much of that gap could you cover without putting your deposit at risk?
 
One caveat to Bianca’s view: I wouldn’t justify the full 7% through updating unless you have at least a rough scope and cost. Otherwise it can sound arbitrary. Decide whether the initial discount already accounts for the condition; asking for the discount and then broad repair credits may irritate the seller. Credits are better reserved for significant issues uncovered later, not visible updating you knew about when offering.
 
Agreed. I’d submit the price with financing evidence, flexible completion, a short explanation and explicit conditions for inspection, financing/appraisal and satisfactory legal review. Avoid vague wording around the deposit: have a Barcelona conveyancing professional explain exactly when it becomes exposed and what happens if a condition fails. If the seller counters, negotiate price and appraisal-gap exposure together rather than focusing only on the headline number.
 
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