Opening 9% below asking on a €1.136m detached home in Milan

[vale.sunny]

I’ve checked the current listings around this detached home, but I still do not have enough completed comparables to judge the €1,136,000 asking price confidently. It has been advertised for 69 days, and the updating required gives me some basis for negotiating.

I’m considering an opening offer 9% under asking, backed by proof of financing and some flexibility over completion. Is that too aggressive without stronger sale evidence? I would also like to set a sensible response deadline without making the offer sound hostile.

I do not want the headline discount to distract from the conditions. How would you deal with the technical inspection, repair credits, a valuation below the agreed price and the amount of deposit at risk?

 

[anika_vale]

A 9% opening discount is not inherently unreasonable. Present it as a considered offer rather than a verdict on the property: mention the updating required, limited completed-sale evidence and the certainty you can provide. Attach financing proof and offer useful timing flexibility. I would not waive technical inspection or financing protection merely to make the number more attractive.

 

[travelsAndGrove]

What does “needs updating” cover—cosmetic finishes, or items that could materially affect cost? That distinction matters. Also, is the house occupied, vacant, or tied to a particular completion date? Seller motivation may be more valuable than the 69 days alone, which does not tell you why it remains available.

 

[travelsAndGrove]

I would avoid submitting a long list of alleged defects before an inspection. It can sound like you are building a case against the house without evidence. Keep the rationale short: current condition, uncertainty around completed comparables, and your ability to proceed. The offer price already reflects your view.

 

[travelsAndGrove]

On reflection, I also would not lead with repair credits. First determine whether the seller will engage at your price. If an inspection later identifies something significant, you can discuss a reduction or credit then. Asking for 9% off plus unspecified future credits may make a clean offer look less clean.

 

[travelsAndGrove]

Give the offer a credible response deadline, but not one so short that it feels theatrical. Before choosing it, ask the agent when the seller can realistically consider the proposal and whether completion timing matters. If flexibility is one of your strongest terms, state the range you can accommodate rather than simply saying “flexible.”

 

[TrueCompass]

One caveat: clean financing is still financing, so decide now what happens if the lender’s valuation comes in below the agreed price. Are you willing to cover any gap, cover it only up to a fixed amount, or withdraw? That should be reflected clearly in the offer rather than negotiated under pressure later.

 

[bo_keys]

I disagree slightly with treating 69 days as negotiating leverage. Without knowing the normal marketing period for this specific type of Milan property, it is only background. Your stronger points are the documented updating costs, lack of reliable completed comparables and terms that solve a problem for the seller. Ask whether there have been prior offers, without assuming the agent will disclose details.

 

[coffeeAndGrain]

Before signing anything, have a local adviser explain when the proposal becomes binding and exactly when any deposit could be retained or returned. The wording and Italian transaction process matter here. Inspection, financing and property-document protections need to be written precisely; a casual assurance from an agent is not a substitute.

 

[iris_shore]

I’d use a simple sequence: set your maximum price and appraisal-gap limit privately; gather financing evidence; submit the 9%-below offer with a brief condition-based rationale, useful completion options and a reasonable deadline; retain inspection and financing protections; then reserve repair negotiations for findings you can substantiate. If the seller counters, compare the total exposure—not just the headline price—including updates, any appraisal gap and the deposit at risk.