How to frame a 5% under-asking offer on a Boston warehouse

[sam.lowe]

I’m considering a Boston warehouse listed at $1,410,000. It has been on the market for 91 days and needs updating. Asking-price comparables look close, but I cannot find enough completed sales to establish where similar properties are actually clearing.

Would an opening offer of $1,339,500—5% below asking—come across as reasonable if I include financing proof and flexibility on completion? I’d rather justify it with the time on market, uncertain completed comparables and condition than submit a list of minor defects. I only want protection against expensive unknowns. Which inspection, financing or appraisal contingencies would you retain, and how long should the offer remain open?

 

[small_quill]

Five percent is not inherently aggressive after 91 days. Keep the explanation short: limited completed-sale evidence, updating costs and the certainty offered by your financing and flexible timing. Ask the agent what matters to the seller before deciding whether price or completion date is the better lever.

I would retain inspection protection for major structural, building-system and environmental unknowns. Also clarify deposit exposure if financing or appraisal fails; “clean financing” should not mean accepting an unlimited appraisal gap.

 

[bakesAndView]

I’d be cautious about leaning too heavily on the 91 days. It supports making an offer, but it does not prove the seller is motivated or that $1,410,000 is inflated. The missing completed comparables are the bigger issue.

Rather than listing anticipated repairs now, offer 5% below with a firm but reasonable response deadline and state that inspection is for material issues, not cosmetic renegotiation. If major problems emerge, decide whether to seek a repair credit or walk away. Financing proof can strengthen the package without waiving financing, appraisal or inspection protections.