Retrade

Definition

Cutting an agreed price after the LOI, usually on a diligence finding.

Why It Matters

Legitimate when diligence surfaces a real problem and toxic when it is tactical, and the difference is visible from the outside. Brokers remember buyers who reprice at the last moment, and in an ecosystem this small that reputation reaches the next seller before you do. If the finding is genuine, bring it with the working papers behind it and name the adjustment it implies, which is a conversation about a number rather than an ambush.

In numbers: Finding $50k of add-backs that do not hold up supports cutting the price by the multiple times that gap; the same cut with no finding behind it is the retrade a broker remembers.