How should I pitch 5% below asking on a Hong Kong serviced apartment?

[holdThePine]

If I misjudge the offer, the bigger danger is not losing the apartment but agreeing to a price the valuation and financing will not support. The Hong Kong serviced apartment is listed at HK$1,794,000, has been on the market for 114 days and would need some updating. Nearby listings are in a similar range, though completed-sale evidence is thin.

I am considering HK$1,704,300 as the opening number, which is 5% under the asking price. I would support it with financing proof, flexibility over completion and a short factual explanation based on the time listed and expected work, rather than criticising the seller's price.

The protections are harder to reverse than the opening figure. I would prefer to retain inspection, financing and appraisal conditions until I understand any valuation gap and exactly when the deposit could be exposed. Is that a reasonable structure, and should repair credits be discussed with the first offer or left until the condition is documented?

 

[nimble_creek]

Five per cent does not sound inherently aggressive here. Keep the explanation factual: time on market, updating costs and limited evidence from completed sales. Avoid presenting those points as defects in the seller’s judgment.

Pair the price with financing proof, your flexible completion date and a clear response deadline. I would keep inspection and financing protection, and make sure the deposit consequences are understood before signing anything.

 

[jade_deals]

I would not lean too heavily on the 114 days. A long listing can indicate weak demand, but it can also mean the seller is patient and unwilling to move. Comparable asking prices support the seller more than they support a discount.

Offer 5% below if that reflects your limit, but be prepared for a counter rather than treating the first number as the expected deal price.

 

[lens.sage]

What does “needs updating” mean in money and disruption? Cosmetic work is different from anything an inspection might uncover. Also, do you know whether the seller values price, speed or a particular completion date most? That could determine whether flexibility is genuinely useful.

I would ask the lender how it will treat this serviced apartment and what happens if its valuation comes in below the agreed price.

 

[nimble_creek]

Karima’s distinction matters. If the updating is visible and measurable, I’d price it into the offer now rather than ask for a vague repair credit later. If an inspection reveals something new, that is a separate discussion.

I also agree with cheng95 that 114 days is context, not proof of value. A short but reasonable response deadline can keep the offer focused without making it sound like an ultimatum.

 

[trail.careful]

I’d submit a short written offer with four parts: HK$1,704,300; evidence that financing is being arranged; the flexible completion window; and clearly stated conditions for inspection, financing and valuation. Ask what matters most to the seller before finalising it.

Do not waive a condition merely to make the offer look cleaner if failure would expose your deposit or leave you funding an appraisal gap. The exact effect of each condition depends on the Hong Kong contract, so have the wording and deposit risk checked before committing.