The problem is not choosing a discount; it is putting a price on the unknowns. I’m looking at a New York condo listed for $545,000 that has spent 45 days on the market. The condition suggests work will be required, yet the evidence I have is mostly current listings rather than reliable completed sales.
I’m thinking of opening at $490,500, which is 10% under the list price, backed by clear financing evidence and flexibility over the closing date. I can accept a rejection, but I do not want to soften the protections that limit my deposit exposure or leave me carrying an unpriced appraisal gap. Would you justify the figure by referring briefly to condition and the thin sales evidence, then deal with repair credits only after inspection?
I’m thinking of opening at $490,500, which is 10% under the list price, backed by clear financing evidence and flexibility over the closing date. I can accept a rejection, but I do not want to soften the protections that limit my deposit exposure or leave me carrying an unpriced appraisal gap. Would you justify the figure by referring briefly to condition and the thin sales evidence, then deal with repair credits only after inspection?