Offering 6% below asking on a Milan townhouse — sensible or too aggressive?

[vale.sunny]

We have until tomorrow to decide, and the trade-off is between making a credible opening offer and protecting ourselves from an expensive surprise. The Milan townhouse is asking €496,800 after 10 days on the market. It needs updating, while the nearby evidence I can see consists mostly of asking prices rather than completed transactions.

I’m thinking of offering about €467,000, which is roughly 6% under asking, with proof of financing and some flexibility over completion. Would you justify that briefly by referring to the updating and thin comparable evidence, or simply submit the number? I’m reluctant to remove inspection, financing or valuation protection merely to make the offer look uncomplicated, particularly if the appraisal comes in below the agreed price.

 

[teaAndTimber]

€467,000 is defensible as an opening, but 10 days is still early and the seller may simply reject it. Keep the explanation short: updating costs, limited evidence from completed comparables, and your ability to provide financing proof and accommodate their timing. Don’t send a long list criticising the house.

I would retain inspection and financing protection. If the lender’s valuation matters, address that too rather than silently accepting any appraisal gap.

 

[KianLee]

Before choosing the number, ask the agent what matters besides price. Does the seller need a particular completion date, and are there already offers or a response deadline? Flexibility may make €467,000 more attractive, but only if it solves an actual problem for them.

Also decide tonight how high you would go after a counteroffer. Otherwise the opening percentage becomes a distraction from your real ceiling.

 

[kian_finance]

I’d be more cautious about justifying 6% through “updating.” Cosmetic work is partly preference, and the seller can reasonably say that is already reflected in the asking price. Unless you have credible completed comparables or identifiable defects, present €467,000 as the price that works for you, not as an objective valuation.

Inspection findings can be handled later through repairs, a credit or withdrawal if the agreed terms permit. Make sure the wording and deposit consequences are checked for the Milan transaction rather than assuming protections work as they might elsewhere.

 

[PatientHill]

Given the one-night deadline, put the essentials in writing before submitting: offer price, expiry time, financing basis, inspection rights, valuation condition if needed, completion flexibility and exactly when any deposit becomes exposed. Financing proof strengthens the bid; waiving financing protection is a different matter.

If the seller counters, compare the extra price with realistic updating costs and any appraisal gap you could cover. That gives you a rational stopping point instead of negotiating against yourself.