Offering 7% below asking on a Los Angeles duplex

[otis_cove]

A 7% opening reduction does not seem absurd, but the thin record of completed duplex sales is my main concern. The Los Angeles property is listed at $1,395,000, has spent 28 days on the market and appears to require a meaningful update.

We can provide strong financing evidence and accommodate the seller on closing timing. I would keep the explanation brief, set a reasonable response deadline and avoid presenting the offer as a verdict on the property. What would change my approach is evidence of competing bids, the tenancy position of either unit or a valuation supporting the list price. I am not comfortable waiving inspection, finance or appraisal protection, and I would rather negotiate repair credits after specific defects are identified. How should we cap any appraisal-gap contribution and protect the deposit if the numbers do not work?

 

[anika_vale]

Seven percent below is not inherently insulting, especially after 28 days, but I would keep the explanation short. Point to the updating required and the limited completed-sale evidence, then let the clean financing and flexible date strengthen the offer. Don’t turn it into a long critique of the property.

I would retain inspection and appraisal protection. If inspection finds material issues, you can then decide whether to request credits rather than trying to price every possible repair now.

 

[trail.careful]

The missing fact is seller motivation. Has the agent indicated whether they need a particular closing date, have received other offers, or are simply testing the price? Also, is either unit occupied, and do the current rents and tenancy arrangements affect your valuation?

I would not promise an appraisal gap casually. Decide in advance how much extra cash, if any, you could contribute without compromising the funds reserved for updates.

 

[cairn.common]

I partly disagree with building a detailed rationale around the lack of completed comparables. That uncertainty cuts both ways, and the seller may hear it as “I have no evidence for my number.” Submit the price you can support, include financing proof, make the flexible completion date prominent and use a clear but reasonable response deadline.

The bigger risk is weakening contingencies just to make a low offer look cleaner. Understand exactly when the deposit becomes exposed before signing anything; the wording and local practice matter.

 

[anika_vale]

Agreed on not overexplaining. I’d separate price from later repair negotiations: offer roughly 7% under based on present condition, but avoid attaching an advance list of speculative credits. Keep inspection, financing and appraisal terms clear, ask what timing matters to the seller, and set an appraisal-gap limit privately rather than offering an unlimited commitment. If they counter, the size and structure of that counter will reveal more than the asking price alone.