Bengaluru serviced apartment: is 2% below asking too aggressive after 106 days?

S

studyTheRoom

Homeowner
Established
The agent is pressing for a decision, and the trade-off is between making a credible offer now and giving up protections to compete. The Bengaluru serviced apartment is listed at ₹22,130,000, has been on the market for 106 days and appears to need updating. Similar listings are easy to find, but completed transactions are scarce.

I am thinking of offering ₹21,687,400, which is 2% under the asking price, backed by financing evidence and some flexibility over completion. How briefly should I explain the condition and weak comparable evidence, and what would be a fair response deadline?

The agent says another buyer could pay the full price. I do not want that claim to rush me into risking the deposit if the inspection reveals problems or the lender values the apartment below the agreed amount. What sequence of checks and conditions would keep the offer attractive without leaving me exposed?
 
After 106 days, 2% below asking is not an insulting opening. Keep the explanation short: the figure reflects the condition, required updating and limited evidence from completed comparable sales. Attach financing proof, offer flexibility on timing and give a clear but reasonable response deadline. Don’t argue about whether the agent’s other buyer exists; let the seller decide between your clean terms and a possible full-price offer.
 
One missing piece: what comes with the “serviced” arrangement? Before focusing on ₹442,600 either way, ask for the recurring charges, management terms, usage restrictions and any repair responsibilities. Those details could matter more than the discount.

I would also separate price from condition. Offer your supported number first, then use the inspection to identify specific issues rather than asking vaguely for future repair credits.
 
The seller may like flexible timing, but I would hesitate to describe that alone as certainty. It improves their side of the deal without addressing the buyer’s larger risks. Financing approval, document checks and inspection rights should remain clearly stated, along with the situations in which the deposit is returned.

The valuation issue also needs a plan before the offer goes in. If the lender comes in below ₹21,687,400, decide whether you would add cash, seek a lower price or withdraw. Otherwise that gap will have to be negotiated under the same time pressure the agent is already creating.
 
Ask the agent one useful question: what matters to the seller besides price—speed, certainty, or a particular completion date? Then submit ₹21,687,400 with financing proof, a response deadline and only the contingencies you genuinely need. If they counter near asking, you can trade movement on price for a repair credit or better timing. If they demand waived protections because of an unnamed buyer, I would not let a 2% gap push me into much larger deposit or condition risk.
 
You must log in or register to reply here.
Back
Top