How can I cut agreed offer price?

[Nat B.]

Hi guys,

I made an offer to purchase off market residental RE. It was accepted by the seller. During the due diligence period I got an idea that probably my price was too high and I should offer a smaller one. Is there any legal way to cut agreed offer price, e.g. to conclude a supplementary agreement…?

Please let me know if you have ever been in the same situation? How have you dealt with that?

I like the property and I don’t want to lose that deal so if there isn’t any legal possibility to cut agreed offer price I wouldn’t contact the seller regarding the price decrease.

Any advice or suggestions will be much appreciated and welcomed.

Thank you.