Offering 2% below asking on a serviced apartment in Montreal — sensible or too aggressive?

[bakesAndGarden]

The offer needs a response deadline, but I do not want a short fuse to undermine an otherwise straightforward proposal. The serviced apartment is listed at C$1,606,000, has been available for 75 days and needs visible updating.

I am considering C$1,573,880, which is 2% below asking, supported by financing evidence and flexibility over completion. There are similar active listings, yet too few confirmed transactions for me to judge the clearing price confidently. Would you keep the explanation brief—condition, limited sold evidence and preferred timing—or provide a fuller comparison?

I also need to decide which points belong in the initial offer. My inclination is to retain inspection and financing or appraisal protection, leave unknown defects for a later repair-credit discussion, and clarify when the deposit becomes exposed. What evidence would make you treat the 75 days as meaningful rather than just a listing-history quirk?

 

[LuckyBeam]

Two percent below is not inherently aggressive, especially after 75 days. I would avoid a long argument about value: submit the number, financing proof and flexible dates, then briefly note the updating required and limited completed comparable evidence.

Before offering, ask which completion date the seller prefers and whether timing matters more than price. Keep inspection and financing protection, including the appraisal risk. Use a clear but reasonable response deadline. If inspection uncovers defects, discuss a credit then rather than guessing now.

 

[AveryElm]

I’d be cautious about treating 75 days as proof that the asking price is high. The missing completed sales matter far more than competing listings, and the lender’s appraisal could become the real constraint.

I also disagree slightly on repairs: visible updating should support the opening price, while inspection should be reserved for defects you could not reasonably assess beforehand. Ask for the best available sold comparables and clarify the seller’s motivation before deciding whether C$1,573,880 is firm or merely a starting point. Have the deposit and condition wording reviewed locally so you understand exactly when it becomes exposed.