Dublin duplex at €395,600: is 5% below asking reasonable?

K

kai_escrow

Homeowner
I can see two sensible approaches here: test the seller with a condition-based offer now, or wait until I have stronger evidence from completed comparables. The duplex is listed at €395,600, has been available for 96 days and appears to require some modernisation.

My proposed opening is €375,820, which is 5% lower, supported by clean financing and flexibility on completion. Would you state likely repair costs now, or reserve those for inspection findings and possible repair credits? I also need to decide how long to leave the offer open and which conditions around inspection, finance, valuation and the deposit should remain in place even if the seller wants a cleaner bid.
 
After 96 days, 5% below is a reasonable opening rather than an insult. Keep the explanation short: condition, updating costs and the limited evidence from completed comparables. Include proof that financing is in place and mention your flexible timing. I wouldn’t send a long repair estimate before an inspection; that can sound like you’re trying to argue down every detail.
 
Has the asking price already been reduced, and do you know whether the duplex is occupied or vacant? Those facts may reveal more about seller motivation than the 96 days alone. I’d also ask the agent whether there have been previous offers, while recognising they may provide only limited information.
 
One caveat: “needs updating” is too broad to support the number by itself. Old finishes are a preference issue, whereas defects found during an inspection are different. Base the opening offer mainly on whatever completed comparables you can obtain, then deal with material repairs separately rather than presenting a speculative renovation budget as a deduction.
 
I wouldn’t assume 96 days means the seller is ready to discount. The price could simply reflect a firm expectation, and comparable asking prices suggest €395,600 may not be obviously out of line.

Offer €375,820 if that is genuinely your starting point, but don’t over-defend it. Give a clear response deadline that allows the seller time to consider it, and expect either a rejection or a counter.
 
I would not waive financing or an independent inspection just to make a below-asking offer look cleaner. Any repair credit should follow actual findings, not be built in twice through both the initial discount and another broad reduction later. Have your Irish solicitor confirm how the wording and deposit arrangements affect you before money becomes exposed; the practical position can depend on the transaction documents.
 
Also decide what happens if the lender’s valuation comes in below your agreed price. Proof of financing shows you are credible, but it does not eliminate an appraisal gap. Set your maximum cash contribution to any gap before negotiating, alongside your absolute purchase ceiling. Otherwise a successful offer can become unaffordable later—or tempt you to risk the deposit by proceeding without enough room.
 
Given the unknowns, I’d submit the €375,820 offer with financing proof, flexible completion and a calm, time-limited request for a response. Keep it subject to satisfactory inspection, financing and legal review. If they counter, compare that figure with completed sales and the cost of confirmed defects. If they reject without countering, ask whether timing or price is the obstacle before increasing anything.
 
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