Is 9% below asking too aggressive for a Brisbane serviced apartment?

[balanced_cairn]

Getting the opening terms wrong could either weaken my protection or turn a workable negotiation into an immediate rejection. The Brisbane serviced apartment is listed at A$1,056,000, has been on the market for 79 days and requires updating. Similar units are advertised nearby, but completed-sale evidence is too limited for me to know where comparable properties are closing.

I am thinking of offering 9% under the asking price while showing that finance is arranged and that I can accommodate the seller’s preferred completion timing. Is condition plus the lack of firm comparable evidence enough explanation, or should I first learn more about the seller’s priorities?

I do not want a stronger-looking offer to come at the cost of finance or inspection protection. I would also appreciate views on handling a low valuation, the deposit and any repair allowance.

 

[alba.oak]

Nine per cent below is not inherently insulting after 79 days, but present it as a workable offer rather than a verdict on the property. Keep the note short: the unit’s condition, limited completed-sale evidence and your readiness to proceed support the figure. Include financing proof and flexible dates, then let the seller counter. A long list of faults can make the negotiation unnecessarily personal.

 

[SolidAnchor]

The missing fact is what “serviced” means for this particular apartment. Is it sold with any ongoing letting or management arrangement, and are your comparables subject to the same setup? A completed sale in an ordinary residential building may not tell you much. I’d also want to understand the recurring building costs and whether the updating is cosmetic or more substantial before settling on 9%.

 

[slate.curious]

Seventy-nine days tells you the apartment has not sold, but it does not reveal whether the seller is motivated. My concern is that 9% will appear unsupported when completed comparables are scarce.

Ask the agent which term matters most to the seller—completion timing, vacant possession, furnishings or certainty of the buyer. Then submit the lower figure with one or two terms that genuinely help, rather than producing a long defence of the discount. That keeps the offer practical while leaving finance, valuation and inspection protections in place.

 

[SolidAnchor]

Even if the evidence is thin, the buyer still needs to put a number forward. I’d avoid saying, “It has sat for 79 days, therefore it is worth less.” Instead: “Based on condition and the limited comparable evidence available, I’m offering X with these terms.” Give it a clear but reasonable written response deadline so it remains an active proposal, not an open-ended bargaining chip.

 

[writeThePage]

Do not confuse financing proof with waiving a finance condition. Proof shows seriousness; the condition deals with the risk that the lender or valuation does not support this specific serviced apartment. The exact Queensland contract wording and deposit consequences should be checked with a local conveyancer or solicitor before signing. I would also preserve suitable inspection protection rather than relying on visible condition alone.

 

[FinnMarch]

Inspection protection makes sense, but I wouldn’t plan on using cosmetic updating to seek a second discount later. Price the obvious work into the opening offer. Reserve any repair-credit discussion for significant issues that were not apparent when you offered. Otherwise the seller may feel that the 9% reduction was only the first of several attempts to retrade.

 

[xavi_flint]

The valuation gap is the point I’d focus on. A lender can be comfortable with you as a borrower yet value the apartment below the agreed price. Decide before offering how much cash, if any, you could add if that happens. Don’t commit the deposit until you understand when it becomes exposed and whether your finance wording actually covers an unsatisfactory valuation.

 

[GoodAnchor]

Try separating price from convenience. Offer roughly A$961,000, show that finance preparations are in place, and let the seller choose from a reasonable range of completion dates if that genuinely helps you both. Don’t disclose your maximum. If they reject rather than counter, ask whether the obstacle was the amount or another term; that tells you whether increasing the price would achieve anything.

 

[countTheSparrow]

I’d keep searching for completed sales within the same building or genuinely similar serviced properties, not just nearby listings. Asking prices show the competition, not the result. Also confirm that any comparison includes the same sort of use restrictions, management arrangements, furnishings and ongoing costs. Differences there could explain a price gap that condition alone does not.

 

[route.bright]

A clean structure would be: stated price, brief condition-and-comparables rationale, financing evidence, requested completion flexibility, inspection and finance conditions, deposit terms, and a defined expiry. No commentary about what the seller “should” accept after 79 days. If they counter, compare the extra price with the likely updating cost and your valuation-gap risk rather than negotiating only around the asking-price percentage.