Positioning · Execution Certainty

“No re-trade”: what it means when you sell a loan

A re-trade is when a buyer agrees a price, ties up the asset, and then uses diligence to grind the number down at the closing table. It forces the seller back to the credit committee to explain a lower figure. A no-re-trade buyer prices for routine findings up front and holds the bid through closing.

Why it matters

The cost of a re-trade

When a special-assets officer takes a bid to committee, they spend internal credibility on it. A re-trade based on routine documentation or deferred-maintenance findings forces them to return and explain a worse number — the most damaging thing a buyer can do to a seller, short of failing to close.

Front-loaded underwriting. The bid already assumes standard documentation deficiencies and customary deferred maintenance.
Hard earnest money. The deposit goes non-refundable at the end of a defined diligence period, aligning the buyer to close.
Material-change-only. The price moves only for something genuinely material and undisclosed — a title defect, an undisclosed lien, a collateral issue — not routine discoveries.

Questions to ask any buyer

Will your indication hold through closing, and under what conditions would it change?
When does your earnest money become non-refundable?
Do you buy with your own capital, or do you need financing or a syndicate to close?
Will you provide proof of funds and escrow references before we sign?

Common questions

Why do buyers re-trade?

Some buyers bid aggressively on limited data to win the asset, then use the diligence window to lower the price. It is a tactic, not a discovery — and it is why sellers prize a buyer who prices for reality up front.

How can I protect against a re-trade?

Choose a principal buyer who underwrites front-loaded, provides proof of funds, and structures the purchase agreement so earnest money goes hard at the end of diligence.

Does Standing Bid Capital re-trade?

No — our bid stands through closing absent a material, undisclosed change. Standing Bid Capital is a direct principal buyer of CRE loans, discounted payoffs, and REO — $250K–$25M, all-cash, no re-trade, confidential. Request a confidential review.