Is 12% below asking too aggressive after 20 days?

[loft.balanced]

If I pitch this badly, I could either overpay or lose a home that might have been negotiable. The Sydney country home is listed at A$912,000, has been on the market for 20 days and appears to require some updating. Similar properties are advertised nearby, but there are too few completed transactions for me to judge the true value confidently.

I’m considering an opening offer 12% under the asking price, backed by proof of finance and a completion date that suits the seller. Before deciding, I need to know what is driving the sale: if timing matters, stronger terms may support the lower figure; if the seller is in no hurry, it may simply be rejected. I would still keep an inspection condition and protect the deposit if finance or valuation fails. Is there another fact I should get from the agent first?

 

[careful_garden]

Twelve per cent below is aggressive, but the presentation matters more than trying to persuade the seller that the home is overpriced. Submit a clear offer supported by the completed comparables you do have, note the visible updating required, and emphasise the flexible completion date. Ask the agent whether timing or price matters more to the seller before choosing your terms.

 

[RealMap]

Twenty days isn’t necessarily long enough to signal weak demand, especially if the comparable asking prices are close to A$912,000. What does “needs updating” mean here—dated finishes, or items that could affect the building inspection? Cosmetic preferences are a weaker basis for a 12% reduction than identifiable work with credible costs.

 

[modern_map]

I’d be careful describing the offer as having clean financing if it still depends on loan approval or valuation. Better to provide proof that your finances are organised while stating any finance condition honestly. I would not waive a building inspection merely to make a low offer look stronger. The exact wording and deposit consequences should be checked with a Sydney conveyancer or solicitor before signing.

 

[bakesAndKite]

I disagree slightly with leading on renovation costs. If the property was already priced with its condition in mind, asking for 12% off and then seeking repair credits can look like counting the same issue twice.

I’d make the initial price stand on completed sales evidence, keep inspection protection for material unknowns, and give the offer a short but workable response deadline. Avoid a long argument: price, evidence, finance proof, completion flexibility and conditions should fit on one clear page.

 

[ravi_voss]

Also plan for the appraisal gap before offering. If the lender’s valuation comes in below the agreed price, would you add cash, renegotiate or walk away under an applicable finance condition? Decide that limit now. Deposit exposure can depend heavily on the contract wording and timing, so don’t assume a failed valuation automatically gives you an exit.

 

[freya_north]

At only 20 days, the seller may simply reject A$802,560 without countering. That doesn’t make the offer offensive; it means your evidence and maximum price need to be strong enough that you’re comfortable losing the property. I’d ask whether there are other offers and whether the seller has a preferred completion date, while treating the agent’s answer as context rather than proof.

 

[freya_north]

One more practical step: prepare three numbers before submitting—the opening offer, the highest price supported by completed comparables, and the maximum you would pay if the inspection is satisfactory. Keep a separate allowance for updating rather than quietly stretching the ceiling later. If the seller counters, that prevents the discussion from turning into repeated small increases with no link to value.