findTheChalk
First-time buyer
I’m considering a condo in Kuala Lumpur listed at MYR 963,500. It has been on the market for 91 days and needs some updating. Nearby asking prices are broadly similar, but I have not found enough completed sales to be confident about the actual clearing price.
Would an opening offer 5% below asking—about MYR 915,000—be sensible, assuming I provide proof of financing and remain flexible on the completion date? I want to explain the offer through the time on market, uncertain completed comparables and likely updating costs without antagonising the seller.
How long a response deadline would be reasonable, and what might reveal the seller’s motivation? I would not want to waive inspection or financing protection, but I’m unsure whether to request repair credits now or wait until after inspection. I’m also concerned about deposit exposure if the valuation comes in low and creates an appraisal gap. How would you structure the offer and its contingencies?
Would an opening offer 5% below asking—about MYR 915,000—be sensible, assuming I provide proof of financing and remain flexible on the completion date? I want to explain the offer through the time on market, uncertain completed comparables and likely updating costs without antagonising the seller.
How long a response deadline would be reasonable, and what might reveal the seller’s motivation? I would not want to waive inspection or financing protection, but I’m unsure whether to request repair credits now or wait until after inspection. I’m also concerned about deposit exposure if the valuation comes in low and creates an appraisal gap. How would you structure the offer and its contingencies?