buyers remorse

If you didn't sign the contract, just go back, say you changed your mind, and make a new offer.

yes but....

don't be surprised if you're met with major hostility. personally, i would move on to another place and only make another offer if the other party suggests it.

But then be prepared to have the offer rejected.

There are no oral real estate agreements in NY. A contract must be subscribed to by BOTH parties. The back and forth negotiating over terms such as price are just that--a negotiation. Nothing is binding until both parties sign the contract.

Real bad form, IMO. How much lower do you want to go? Why did you make the current offer if you thought it wasn't a proper price?

If you're within 2%, say, of where you want to be, then take your lumps. If you think you're off by 10%, then you need to learn how to value things without being told a price.

was this a new construction or a resale? either way assuming sales closed you should know exactly what you should be paying per square foot and how to discount backwards if for instance it was a resale and you needed to do a lot of work.

but i do not understand a price was much too high comment, unless you bought an overpriced resale and got almost no discount.

You can walk away. Just like the seller can accept a better offer if they get one before contracts are signed by both parties.

BTW, I'm not implying that you move forward...