Offering 8% below asking on a Seoul villa after 119 days

[coffeeAndChart]

I am torn between making a plain low offer and providing enough context to show that it is serious. Too little explanation may look arbitrary, while too much could sound like an attack on the property.

The Seoul villa is listed at ₩524,400,000 and has remained available for 119 days. It needs updating, and the similar figures I see are advertisements rather than a strong set of completed transactions. I am considering ₩482,448,000, which is 8% lower, accompanied by financing proof and a willingness to discuss the completion date.

Would you mention only the limited sales evidence and visible updating, leaving any material defects for inspection and a possible repair-credit discussion? I also want the agreement to preserve financing, appraisal and inspection routes without making the deposit more exposed. Where is the narrowest reasonable compromise between a credible lower offer and those protections?

 

[knitsAndAtlas]

Present it as a price supported by uncertainty and condition, not as a criticism of the villa. Keep the written explanation short: limited completed comparables, updating costs and your ability to accommodate the seller’s preferred completion timing. Include financing proof and a reasonable response deadline. Eight percent below is not inherently insulting after 119 days; the seller can counter.

 

[bikesAndEcho]

Before choosing the deadline, do you know why it has sat for 119 days? A seller who must coordinate another move may value your flexible completion date, while one with no urgency may simply wait. I’d also ask whether previous negotiations failed over price, inspection findings or financing. The answer could matter more than the listing age itself.

 

[theo_cedar]

The seller may see the similar asking prices as support for holding firm, and that makes me hesitant to rely heavily on the 119 days. It does not show whether earlier buyers offered less, encountered defects or failed to secure financing.

Submit ₩482,448,000 if that is your genuine ceiling, but keep the explanation compact. Financing proof, flexibility over timing and a short reference to condition are enough; a detailed fault list is more likely to irritate than persuade. Before setting the response deadline, ask the agent why previous interest did not proceed. That answer is more useful than the listing age alone.

 

[DaanGale]

Separate visible updating from defects that only an inspection may reveal. Price the cosmetic work into the opening offer, then keep the inspection contingency for material issues. If something significant appears, decide whether to seek a repair credit or walk away rather than expecting every dated finish to produce another reduction.

Also define what happens if the appraisal is below the agreed price. “Clean financing” should mean organised paperwork, not an unlimited promise to cover an appraisal gap.

 

[bikesAndEcho]

Agreed on the appraisal gap, but the deposit terms need equal attention. A low offer is not improved by making the deposit unnecessarily exposed if financing, appraisal or inspection fails. The exact contract language and local consequences in South Korea should be confirmed before signing. Ask whoever is preparing or reviewing the agreement to explain when the deposit can be retained and how each contingency must be exercised.

 

[coffeeAndChart]

Thanks all. I’ll keep the rationale to three points: uncertain completed-sale evidence, the villa’s updating needs and flexibility on completion. I’ll provide financing evidence, set a clear but not rushed response deadline, and invite a counter rather than defending every won. I’ll also ask about the seller’s timing and any earlier failed negotiations. Inspection, financing and appraisal protection will stay; I won’t trade those away just to preserve the 8% opening.

 

[WildBrick]

That sounds balanced. Decide your next number before submitting, including the maximum appraisal gap and updating cost you could absorb. Otherwise a counter can turn into improvised bargaining. If the seller focuses on headline price, you can compare two structures—for example, your lower price with completion flexibility versus a somewhat higher figure only if the inspection and appraisal remain satisfactory. Just ensure any alternatives are written clearly and reviewed for the Seoul transaction.