Offering 8% below asking on a Hong Kong condo after 88 days

[gardensAndCorner]

Offering HK$6,637,800 gives me negotiating room but may cause the seller to dismiss me; moving closer to HK$7,215,000 feels premature without stronger sale evidence. The condo has been listed for 88 days and requires updating, while the nearby figures I can find are mostly current listings rather than completed transactions.

Is an opening bid 8% under the asking price reasonable if it comes with clear proof of financing and flexibility over completion? I would keep the explanation brief and tied to the work required and the limited comparable evidence. I do not want to surrender inspection or financing protection just to improve the offer, though. How would you set the response deadline and deal with a valuation shortfall or deposit exposure if the appraisal comes in low?

 

[EarlyGlass]

Eight percent is not inherently insulting, especially after 88 days, but I would not build the case around time on market alone. Keep the message short: the offer reflects the updating required and the limited evidence from completed comparables, while your financing and completion flexibility make it straightforward. Let the seller counter rather than trying to justify every dollar.

 

[DevQuinn]

How extensive is the updating? Cosmetic work is different from defects that might emerge during inspection. I’d also ask whether the seller has already reduced the price or rejected earlier offers. Eighty-eight days could signal weak demand, but it could equally mean the seller is patient and anchored to HK$7,215,000.

 

[measureTheYard]

I disagree slightly with leading on the lack of completed comparables. That uncertainty cuts both ways, so the seller can simply say your 8% discount is unsupported. If possible, identify the closest completed transactions by building, size, floor, condition and timing, then explain any adjustments cautiously. Asking prices show competition, not what buyers ultimately paid.

 

[PrimeThread]

Make the price firm but the surrounding terms easy to understand: financing proof ready, a completion window rather than one rigid date, and a clear response deadline. Avoid an unnecessarily short deadline, which can turn a negotiable offer into a pressure tactic. Also decide beforehand how far you can move if the seller counters at, say, only 2–3% below asking.

 

[lena.wells]

I would not waive inspection protection just to make the discount look cleaner. If updating costs are already reflected in your HK$6,637,800 figure, avoid requesting a second discount for obvious cosmetic items later. Reserve any repair-credit discussion for material issues you could not reasonably assess before offering.

 

[miro_roofs]

Financing proof helps, but it does not remove appraisal risk. Work out what happens if the lender’s valuation is below the agreed price: can you fund the gap, renegotiate, or exit under the actual agreement? The wording and deposit consequences matter in Hong Kong, so this is one area where the proposed terms should be checked carefully before anything is signed.

 

[clear_wall]

Before submitting, ask the agent one neutral question: does the seller care more about price, completion timing or certainty? You may not get a full answer, but it could reveal whether flexibility has real value. If the seller needs a particular completion date, meeting it might support your lower price more effectively than a long explanation about renovations.

 

[nimble_creek]

I’d separate the numbers into three limits: opening offer, planned counteroffer and absolute ceiling. Include expected updating costs and any appraisal gap in that ceiling, not just the purchase price. Then submit the 8% offer politely with financing evidence, completion options, inspection protection and a reasonable expiry. If it is rejected without a counter, you will know the seller’s motivation was weaker than the 88 days suggested.