12% below asking on a R$5,208,000 serviced apartment in Rio?

Y

yuki_north

Property investor
Established
The seller is not desperate, but one deal has already collapsed. The serviced apartment has been listed for 102 days at R$5,208,000 and needs updating. Nearby asking prices are similar, although I cannot find enough completed sales to establish the likely clearing price.

I am considering opening 12% below asking—R$4,583,040—with strong financing proof and flexibility on completion. How would you explain that figure without antagonising the seller? I also do not want the attraction of a lower price to push me into waiving inspection, financing or appraisal protection.
 
Twelve percent is assertive, not absurd, given the time listed, condition and failed deal. Keep the explanation impersonal: limited evidence from completed sales, expected updating costs and financing risk. Attach proof that you can perform, offer the flexible completion date, and give a clear but reasonable response deadline. That makes it look considered rather than opportunistic.
 
One missing fact could change everything: why did the earlier deal collapse? A buyer-side financing problem says little about the apartment. An inspection, appraisal or documentation issue would be highly relevant. I would ask through the agent before deciding whether 12% is merely an opening position or close to your maximum.
 
I would be careful about using the needed updates twice—once to justify the discount and again to request repair credits after inspection. The seller may see that as retrading. Either price the visible work into the initial offer and reserve credits for genuinely new findings, or offer nearer asking while identifying specific work you expect them to address.
 
I would not waive inspection protection just to make the offer cleaner. Nor would I expose the deposit if financing or appraisal fails for reasons covered by the agreed contingencies. For a serviced apartment, also establish exactly what servicing arrangement and ongoing obligations transfer with the property; have the contract language and local implications checked before signing rather than relying on listing descriptions.
 
The appraisal gap deserves an explicit plan. If the lender values it below the agreed price, will you add cash, renegotiate, or walk away? Do not leave that vague while presenting the financing as strong. You can show proof of funds or financing readiness without promising in advance to cover an unlimited shortfall.
 
Sam’s point about double-counting repairs is important, but I would still open at 12% below if that figure works for you. Just keep the offer short: price, financing evidence, flexible completion, contingencies and expiry. Avoid a long argument about why the apartment is overpriced. Before submitting, set your own ceiling and maximum acceptable deposit exposure so a counteroffer does not turn into improvised decision-making.
 
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