How hard should I negotiate after a previous deal fell through?

[nimble_creek]

I have now narrowed my likely opening offer to 2% under the HK$4,680,000 asking price, but I am less certain about the terms around it. The apartment has been listed for 14 days, requires updating and previously had a sale fall apart. The seller does not otherwise seem under pressure.

Local listings support the asking price, although the shortage of completed comparables makes them a weak guide to the final value. Would financing evidence and a completion date that suits the seller make the 2% reduction easier to accept? I also need to choose a fair response deadline rather than manufacturing urgency.

I intend to retain financing, valuation and inspection protection until I understand the deposit consequences. For the visible work, is it cleaner to reflect the cost in the opening price, or leave room to seek repair credits if the inspection identifies something material?

 

[XaviReed]

A 2% reduction is only HK$93,600, so I would not call that aggressive where updating is required. Present it as a supported offer rather than a criticism of the apartment: clean financing, preferred completion timing, and a short but reasonable response deadline.

Before deciding on contingencies, ask why the earlier deal collapsed. Financing trouble on the previous buyer’s side is very different from an inspection, title or valuation issue.

 

[KitSage]

I agree on finding out why the first deal failed, but I would not use a tight deadline after only 14 days unless there are competing offers. It could undermine an otherwise credible proposal.

Keep financing and inspection protection unless you fully understand the resulting deposit risk under the actual agreement. Also decide in advance what happens if the valuation is below your offer: add cash, renegotiate or walk away if permitted. For visible updating, price it into the offer rather than assuming the seller will later grant repair credits. Have a Hong Kong conveyancing solicitor review the wording before signing anything.