Offering 5% below asking on a Hong Kong townhouse at HK$5,655,000

G

gardensAndCorner

Buyer
Established
The seller may regard a 5% reduction as unnecessary when nearby townhouses are marketed at similar levels, and that is what makes me hesitate. This one is listed at HK$5,655,000, however, has been on the market for 101 days and appears to require updating. There are too few completed transactions for me to judge the price confidently.

I’m thinking of submitting the lower figure with proof of financing, a completion timetable that suits the seller and a firm but reasonable deadline for a response. I would keep an inspection condition and financing protection. I also want the offer to say what happens if the appraisal is below the agreed price rather than leaving me committed to an unknown gap. Is that a credible package, or would the protections undermine the price?
 
Five percent below is not inherently aggressive after 101 days, but present it as a complete package rather than a criticism of the property. State the price, attach credible financing proof, mention your completion flexibility and keep the explanation brief: time on market, updating costs and limited evidence from completed comparables.

I would retain inspection protection and make the treatment of any appraisal gap explicit. A “clean” offer should mean organised and credible, not unprotected.
 
What does “needs updating” cover—mainly finishes, or issues that could materially affect cost? That changes whether I’d seek a lower price now or wait for an inspection and request a repair credit.

I’d also ask the agent about seller motivation and preferred completion timing. The 101 days matter less if the seller is under no pressure. Give the offer a clear, reasonable response deadline rather than leaving it open indefinitely.
 
One caveat to the 5% approach: without completed comparables, the percentage can look arbitrary. Similar asking prices only show what other sellers hope to receive. I’d identify the best available completed evidence before submitting, even if it is imperfect, and avoid overstating what it proves.

Also clarify deposit exposure with a Hong Kong solicitor before signing anything. Financing, valuation and inspection wording can interact with when money becomes at risk, so broad verbal assurances from an agent are not enough.
 
I’d submit HK$5,372,250 with financing proof, the flexible completion date and only a short explanation. Keep inspection and clearly drafted financing/valuation protections. If inspection later reveals genuine defects, discuss a focused repair credit then; don’t build in speculative repairs now and also expect the seller to credit the same work later.

If they counter, you’ll learn more about motivation without having started at your maximum.
 
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