Financing a property that I am fully aware is over market value

[Jacob Barnhart]

Yes, I am looking at offering on a property that the owner is asking far too much for. I have a personal reason for wanting this property that most people wouldn't, so it has more value to me than most other people. Specifically, it has a large shop that I can run my personal training studio out of instead of paying $1,500+ a month for commercial space. That said, the property still cash-flows without the studio (after renovations).

Since I obviously will not get full financing on a property being bought over appraised value, this is my question: Could I submit an offer to the seller for the lesser of: the asking price or the appraisal price? This way if the appraisal comes in lower than the asking price, I would just get it for appraised value? I've never heard of offers stated this way, but I'm thinking it could be a great option.

I believe there's a good chance the seller would go for it as well, because I've been talking with her for a while and I got her down 20% from asking price, but her children convinced her out of selling for that price. She wants me to have it. I just need a good way to get the property under contract that makes more sense to her sons who just don't understand how overpriced it is.