Price negotiation single-family house

Hello everyone,
After almost 6 years of searching, we have finally found a house that we would move into immediately. We fell in love with this house from the very first moment. The only catch is that the seller has a very high price expectation, which is almost 100k above our budget.
We had the house appraised by the bank; the desired price is 20% above the market value.
We can make him an offer that is 10 percent below his asking price. We can just barely finance that; actually, we wanted to buy a house that costs 50k less than what we want to offer him. I read that 10-15% is usually already factored into the price because everyone expects to negotiate. Also, compared to other properties in the area, the price is too high.
How should we approach the price negotiation? There is nothing about the house that one could criticize; it is as perfect as it is and located in a very sought-after area.
Do we have a chance?
Best regards

In this market? Unfortunately not. You will have to pay whatever is asked. If things go badly, someone else might offer more.

So 20% above the market value according to the bank valuation is not much now. I know of other amounts. Banks tend to value more conservatively. I don't think negotiation is possible there, but you can try. In doubt, someone will pay more than is currently being asked.

You can always try asking. Even in our highly sought-after area, some sellers want so much that no one is willing to pay it. At least just as often, however, the asking price was outbid. That is hard to judge from a distance.

The seller wants to keep the whole matter of the sale rather secret and does not want to put it on the internet. That might be a small advantage for us, we just hoped that he deliberately mentioned more than he ultimately wanted to get, and even when we said that our budget is much lower, he still gave us a chance to reconsider, otherwise he could have just said right away that he would not go down, right?

I had to pay a lot of tuition fees myself this January. I also thought that I could negotiate the price of a house, which I considered too high, down by 20%.... No way. At that time, we also had the house evaluated by 2 banks. They said it was listed for 30% too much.

That is no longer possible today, unless it is a junk property.

We have now bought a house for much more than the asking price; we didn’t have the patience to negotiate anymore, and we like the house.