Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

Don't Let a Last Minute Retrade Kill Your Deal

29 Jun 2026 · 1 min

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0:43

In this segment, the speaker recounts a real‑estate transaction where a buyer who had never visited the property and never met the seller attempted a last‑minute retrade just before closing. After the due‑diligence period had expired, the buyer tried to lower the purchase price from about $1.2 million to roughly $950 k–$1 million. The seller refused the retrade, kept the buyer’s $10,000 deposit, and expressed frustration because the deal was essentially done and the unexpected price cut left a sour taste. The anecdote serves as a cautionary example of how last‑minute price renegotiations can jeopardize a deal and the importance of respecting due‑diligence timelines and deposit terms.

Chapters

The buyer, again, having never been there, never met the seller, tried to retrade it at the last minute, right before the close, thinking, what are they going to do? They tried to retrade it down to, I don't remember exactly, I think it was $950,000 or $1 million. Pretty significant retrade. The seller said no, and they kept the buyer's deposit to boot. It was after the due diligence period had expired. And the seller wasn't happy. 'Cause the deposit they kept was only 10 grand. That doesn't stink, but when you had your facility, quote unquote, sold for $1.2 million and you had one foot out the door, that left a pretty salty taste in their mouth.