Is 8% below asking too aggressive for this Tokyo apartment?

E

EarlyGlass

Buyer
Established
I am split between opening 8% below asking and waiting until I can support a narrower figure with better evidence. The Tokyo apartment is listed at ¥116,300,000, has been available for 116 days, needs updating and has already had one deal fall through, although the seller is said to be in no hurry.

An 8% reduction means an opening offer of ¥106,996,000. Nearby listings provide some context, but the completed comparables are too thin for me to be confident about value. I can demonstrate financing readiness and accommodate the seller's preferred completion timing. Would you first establish why the earlier transaction failed and then present the offer around renovation cost and appraisal risk? I would also welcome views on inspection, financing and appraisal protections, plus a reasonable response deadline that does not make the offer unnecessarily hostile.
 
The number is defensible if you present it as cost-and-risk based rather than as a verdict on the apartment. Include the updating needed, limited completed-sale evidence and your strengths on financing and timing. I would keep inspection and financing protection. Also give the offer a clear response deadline so it does not become a free option while the seller waits for someone better.
 
Before choosing 8%, do you know why the earlier deal collapsed? A financing failure says little about the property; an inspection or valuation problem could support your position. I would also ask what the seller values besides price. Flexible completion may matter more than a slightly higher offer, but only if your flexibility matches their actual timeline.
 
I would be cautious about leaning too heavily on the 116 days. Similar asking prices suggest the seller may simply reject ¥106,996,000 rather than negotiate.

Still, there is no need to raise the opening blindly. Ask for completed comparables and clarify the scope of updating first. If defects emerge, decide whether you want a repair credit or a lower price rather than mixing both. Most importantly, spell out what happens if valuation comes in below the contract price and how much deposit is exposed if financing fails. Those terms may matter more than whether the opening discount is 7% or 8%.
 
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