Structuring a 5%-below offer on a Montreal coastal home

[hana.slate]

After 51 days on the market, a 5%-below offer does not seem unreasonable, but the failed earlier deal worries me more than the listing age. The Montreal coastal home is asking C$1,863,000, needs updating, and the seller is said to have no urgent reason to accept less.

Nearby listings support the general range, while the completed-sale evidence is too limited for me to treat any figure as firm value. I could support my offer with financing proof and accommodate the seller’s preferred completion timing, but I do not want that flexibility confused with a promise to cover an appraisal shortfall.

Would you make the offer conditional on inspection and financing, with a modest deposit and a clear response deadline? If the earlier deal failed over the property or appraisal, I would reassess the price; if it was buyer-specific, I would be more comfortable opening 5% under asking.

 

[GreenPage]

Five percent below is about C$1.77m, which does not sound inherently antagonistic after 51 days. Keep the explanation short: limited completed-sale evidence, updating required, and your ability to offer financing proof plus timing flexibility. Avoid presenting a long list of defects unless you want to invite an argument over each one.

I would retain inspection and financing protection. If the inspection reveals material work, then discuss a repair credit or price adjustment rather than estimating every repair in the opening offer.

 

[aisha.quinn]

I’d be more cautious about calling the financing “clean” until you know how an appraisal shortfall would be handled. Proof that funds or financing are available is useful, but it is not the same as agreeing to cover any gap.

Also ask why the earlier deal collapsed; that could materially change the risk assessment. Use a reasonable but firm response deadline, and have the deposit terms checked for Quebec before signing so you understand exactly when it becomes exposed. If completed comparables remain thin, your 5% figure is a negotiating position, not a valuation conclusion.