Opening 5% below asking after 110 days in Montreal

A

AveryElm

Property investor
After 110 days there may be room to negotiate, but the unknown updating cost concerns me more than the listing age. The Montreal studio is offered at C$1,492,000, and I am considering an opening of C$1,417,400, which is 5% lower.

I can provide financing proof and accommodate the seller on completion. Since completed-sale evidence is limited, I would present the figure as the amount I can support rather than a claim about absolute value. How would others keep that explanation brief, and which inspection, appraisal and financing terms should remain? I also want to avoid excessive deposit exposure or agreeing to repair credits before the work is properly assessed.
 
One clarification: I’m not trying to justify the discount by listing days alone. I’d rather make a short, credible offer than send a long critique of the property. I also don’t know the seller’s motivation, so I’m unsure whether a tight response deadline would help or simply make the offer easier to reject.
 
Five percent below is not inherently aggressive after 110 days. Present it as the amount you can support given the limited completed comparables and updating required, not as a verdict on what the studio is “really worth.” Include financing proof and your flexible completion date.

I would keep inspection and financing protection. Clean terms should mean organised and responsive, not taking on unknown repair or appraisal risk.
 
The missing piece is what happens if the lender’s appraisal comes in below your offer. Can you cover any gap without compromising the money reserved for updating? If not, financing wording matters more than whether the seller dislikes a 5% discount.

I also disagree with using a very short deadline here. Unless there is competing interest, pressure may work against the otherwise reasonable tone.
 
I’d make the deadline long enough for a considered response but not leave the offer hanging indefinitely. Ask whether the seller values price, timing, or certainty most; completion flexibility could be worth more to them than a small movement in price.

On repairs, inspect first and distinguish major unknowns from visible updating already reflected in your offer. Seeking both the full discount and credits for the same obvious work can look like renegotiating twice.
 
Also understand exactly when the deposit becomes exposed under the proposed terms; that can depend on the contract and Quebec practice, so confirm the wording locally before signing.

A sensible structure is: C$1,417,400, financing evidence attached, flexible completion, a calm response deadline, and clearly drafted financing and inspection conditions. If the seller counters, decide in advance your ceiling and how much appraisal gap or repair risk—if any—you will accept. That keeps the negotiation focused on numbers rather than emotion.
 
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