Offering 8% below asking on a Mexico City apartment — sensible or too aggressive?

[WorthyVale]

I’ve now calculated an 8% opening offer, which raises a new question about how much weight to give the apartment’s 112 days on the market. The Mexico City property is listed at MX$20,340,000, and my proposed figure would be MX$18,712,800. It needs updating, but the nearby evidence I can find consists mainly of similar asking prices rather than completed deals.

I can provide financing evidence and accommodate the seller on completion. Before submitting, however, I want to establish why the property has remained available, whether any previous agreement failed and how much work is genuinely required.

I would keep inspection and financing protection. How would others sequence the remaining decisions on valuation risk, repair credits, deposit exposure and a reasonable response deadline without making the offer unnecessarily complicated?

 

[drawTheHarbor]

The number is not inherently insulting after 112 days, provided the offer is presented as a serious package rather than a criticism of the apartment. Give financing proof, identify the updating costs in broad terms, and emphasise your flexible completion date. I’d use a short but reasonable response deadline so the offer does not remain open indefinitely. Keep inspection and financing contingencies.

 

[CuriousHill]

Before settling on 8%, ask why it has been sitting. Was there an earlier deal that failed, has the price already been reduced, or is the seller simply in no hurry? Those answers matter more than nearby asking prices. Also clarify whether “needs updating” means cosmetic work or defects that could emerge during inspection.

 

[cooksAndTrail]

I’d be cautious about justifying the offer with a detailed renovation budget. Sellers often hear that as “I want you to fund my preferred finishes.” Completed comparables would be stronger, but if they are unavailable, keep the explanation simple: market time, current condition and financing certainty. Save requests for repair credits for significant inspection findings rather than asking for both a discount and speculative credits upfront.

 

[weighTheLoft]

I disagree slightly on the deadline. An unnecessarily tight expiry can undermine the otherwise flexible tone, especially if the seller needs time to consult family or compare options. Make it long enough for a considered response but with a clear end point.

More importantly, decide your appraisal-gap position before offering. If the lender’s valuation is below the contract price, how much extra cash could you contribute, if any? The financing wording and deposit-release terms should reflect that. Have the exact contingency and deposit language reviewed locally, because the consequences depend on the Mexico City transaction documents.

 

[sam.archer]

A practical sequence would be: request any available history on prior offers or failed transactions, submit MX$18,712,800 with financing proof and completion flexibility, retain inspection and financing protection, and avoid promising to cover an unlimited appraisal gap. State that material defects may lead to a repair-credit discussion, but do not pre-negotiate imaginary repairs. Finally, make sure the deposit is not exposed before the agreed protections have run their course.