Structuring an 8%-below-asking offer after 97 days

S

StillPorch

Real estate agent
Established
I'm considering a coastal home in Delhi listed at ₹27,970,000. It has been available for 97 days and needs updating. Nearby asking prices look similar, but I cannot find enough completed sales to establish where buyers are actually closing.

Would an opening offer 8% below asking be sensible if I provide financing proof and allow a flexible completion date? I want to explain the condition and limited completed evidence without antagonising the seller. I also would not want to waive essential protections around inspection or financing. How would others structure the offer, including the response deadline and any repair-credit request?
 
After 97 days, 8% below asking is firm but not inherently insulting. Keep the explanation short: the offer reflects the updating required and uncertainty around completed comparables, while your financing proof and timing flexibility provide certainty. Don’t write a critique of every defect.

I’d first ask whether the seller has a preferred completion date or another motivation you can accommodate without raising the price.
 
An 8% reduction already appears to account for at least some of the property's condition. Adding a repair allowance at the outset could therefore look like a second discount unless each item has a clear cost basis.

I would divide the issues into two lists: visible finishes to price into the offer, and possible defects that remain subject to inspection. If the inspection identifies material work, that report can support a later credit request. Until then, financing proof and flexibility on timing strengthen the offer without requiring the buyer to accept an unlimited appraisal gap.
 
Agreed with Bianca. I would make the initial price subject to inspection but not attach a speculative repair allowance. If inspection later identifies material work, you can request a credit with a clear basis. Cosmetic updating should already be reflected in the opening number.

Also, comparable asking prices mainly show seller expectations. If completed evidence is thin, they do not prove the home is worth ₹27,970,000.
 
One caveat: “clean financing” should not quietly become unlimited appraisal-gap exposure. If the lender’s valuation is below the agreed price, decide in advance how much extra cash, if any, you could safely contribute. Financing proof strengthens the offer; waiving protection against a shortfall is a separate decision.

The deposit terms matter too. Have the person preparing the offer explain when it becomes exposed and how the inspection, financing and valuation conditions interact under the applicable Delhi transaction documents.
 
That distinction helps. I’ll present proof of financing without describing the offer as unconditional, and I won’t seek a repair credit before an inspection identifies anything specific. I’ll also ask about the seller’s preferred completion timing.

For the written rationale, I’m leaning toward one paragraph covering the 97-day marketing period, required updating and lack of reliable completed comparables, rather than sending a long defect list.
 
I’d actually leave the 97 days out of the written rationale. The seller already knows how long it has been listed, and mentioning it can sound like pressure rather than valuation reasoning. Use it to justify your own negotiating position, but tell the seller only that the price reflects condition and available market evidence. Let the favourable terms do the rest.
 
There’s also a tactical choice between offering the full 8% below now and leaving room for movement. If ₹25,732,400 is your opening figure rather than your ceiling, know your next number before submitting. If it is already close to your maximum, say less and avoid signalling that you expect to split the difference automatically.
 
Give the offer a real but reasonable response deadline, tied to practical needs rather than drama. Too short can irritate a seller who needs to consult others; open-ended lets the negotiation drift. Make sure the deadline does not accidentally shorten the time available for financing or inspection after acceptance. I’d also avoid increasing the deposit merely to make the offer look stronger unless the release and refund conditions are fully understood.
 
The strongest package seems to be: a clear price, financing evidence, flexibility on completion, a normal response deadline, and narrowly drafted inspection and financing protections. Keep any appraisal-gap contribution capped rather than vague. If the seller counters, compare the higher price with the likely updating cost instead of focusing only on the percentage discount. And if completed sales remain unavailable, accept that the inspection and valuation may provide more useful information than the nearby asking prices.
 
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