Offering 10% below asking on a coastal home in Munich — sensible or too aggressive?

I need to settle the offer terms and response window soon. The trade-off is between making a credible opening on a Munich coastal home listed at €593,400 and taking on risks that are not justified by the limited sales evidence.

The property has been marketed for 54 days and requires updating. Similar nearby asking prices do not tell me what buyers have actually paid, so I am considering an opening figure 10% lower, supported by financing evidence and flexibility on completion. I would keep inspection protection and place a clear limit on any appraisal gap or deposit exposure. Would you present repair costs in the initial valuation, or reserve specific credits until after the inspection, and what response period would be firm without being needlessly confrontational?

I’d submit the number without calling it a discount. Explain that it reflects the visible updating costs, limited completed-sale evidence and your assessment of value. Then emphasise the strengths: financing proof, flexibility and a straightforward timetable. Ten percent below is firm, but 54 days on the market makes it defensible. Keep the response deadline reasonable; an artificially short one clashes with the cooperative tone.

What do you know about the seller’s motivation? The approach changes if they need a particular completion date versus simply testing the market. I’d also ask the agent whether previous offers failed because of price, financing or conditions. They may not disclose details, but even a general answer could tell you whether flexibility matters more than another few thousand euros.

I’m less convinced that 54 days alone supports a 10% reduction. Without completed comparables, the seller can just as easily point to the similar asking prices. Lead with specific updating items rather than time on market, and decide in advance what evidence would justify moving upward. I would not waive inspection protection merely to make the offer look cleaner, especially when the property already needs work.

Put the offer and financing proof together, but keep the protections clearly separated. State your price, proposed completion flexibility and response deadline; then list inspection, financing and valuation conditions in plain terms after checking the wording appropriate for Germany. If inspection reveals significant work, request either a documented price adjustment or repair credit rather than leaving it open-ended. Also cap any appraisal-gap contribution and understand exactly when your deposit could be exposed before signing.