How would you frame a 5%-under offer on this Calgary serviced apartment?

M

MinaGale

First-time buyer
Established
The seller is holding at C$951,800, and I’m hesitant to challenge that without stronger completed-sale evidence. We have one night to decide on this Calgary serviced apartment. It has been listed for 38 days, and the interior will need some work.

I’m leaning toward C$904,210, which is 5% under, with proof of financing and a completion date that can suit the seller. Is it better to give a brief basis for the number or simply let the terms support it? I intend to keep the inspection and financing conditions because an appraisal shortfall would be difficult to absorb. If the work is mainly cosmetic, I would seek the lower price now; if inspection reveals specific defects, would a repair credit be the better route?
 
Keep the explanation short: 38 days on the market, updating required, and limited evidence from completed sales. The seller may reject the reasoning anyway, so let the offer terms do the work. Financing proof and a completion date that suits them can make C$904,210 look more credible. I would retain inspection and financing conditions and avoid making any deposit exposure broader just to present the offer as “clean.”
 
You have checked the listing history and the limited completed-sale evidence, but the seller’s position is still the unknown. I would ask the agent whether any earlier offers failed and whether the seller has a preferred completion date.

I would also separate dated décor from actual defects. Price the cosmetic updating into the initial offer, then reserve any request for a repair credit for items supported by the inspection.
 
A long explanation may weaken the offer. The specific concern is that emphasising the lack of completed comparables could make C$904,210 appear tentative rather than reasoned.

Send the number with financing proof, useful timing and a clear response deadline, while retaining inspection, financing and appraisal protection. Before submitting, set both your maximum price and the largest appraisal gap you could cover. A counteroffer then becomes a trade-off: move on price in return for a credit or favourable completion date, rather than giving ground on every term.
 
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