Offering 7% below asking on a new-build flat in Seattle — sensible or too aggressive?

[zia.slate]

We have checked the $845,000 asking price against nearby listings and confirmed that the new-build flat has been marketed for 96 days. What remains unclear is why it still needs updating and what buyers have actually paid for comparable units.

We are considering an opening offer 7% lower, supported by financing evidence and flexibility on the completion date. I would keep the explanation brief and factual, but I do not know whether the marketing period gives us much leverage without reliable closed-sale evidence.

The response is due tomorrow, so I also want to avoid weakening the offer terms simply because time is short. Which protections would you retain for inspection, financing and a low appraisal, and what document or seller response would help distinguish cosmetic changes from unfinished work or defects?

 

[xavi_flint]

Seven percent below is about $785,850, which is low enough to invite a counter but not inherently insulting after 96 days. Keep the explanation short: limited completed comparables, the updating required, and your ability to proceed with financing evidence and a flexible date. I would retain inspection, financing and appraisal protection unless you can comfortably absorb both repair costs and an appraisal gap.

 

[watchTheWire]

What does “needs updating” mean on a new build—cosmetic choices, unfinished items, or defects? That distinction matters. Also ask whether the seller has rejected earlier offers and whether price or timing matters more to them. If completion flexibility solves a real seller problem, it strengthens your offer; if not, it may add little.

 

[porch.direct]

The seller may be more interested in preserving the development’s headline price, and that makes me hesitant to assume 96 days supports a 7% reduction. Time on the market shows that the flat has not sold, but not why.

One alternative is a price nearer the asking figure with a credit for clearly identified work. That only improves the deal if the inspection or completion documents establish what remains outstanding; a vague allowance for “updating” is easy to overvalue. With so little closed-sale evidence, the appraisal gap and the cash needed to cover it may be more important than the opening discount.

 

[cairn.common]

Submit the price you can defend and set a clear response deadline rather than negotiating against yourselves tonight. Include financing proof, specify the requested completion flexibility, and make the inspection terms precise. Before signing, understand when the deposit becomes exposed and what happens if the appraisal is low. If you would cover a gap, cap it at an amount you can actually fund; otherwise keep the appraisal contingency intact.