Renegotiating Contracts With Sellers

[Akuda Esin]

I recently had a contract fall through with some sellers, they were highly motivated, and decided they would rather sell with me than use an agent, home was listed on FSBO for some months before I came into the picture.

The house was in decent shape, needed some repairs, and was in a decent part of town in a Class B neighborhood, but the market quickly let me know my price was too high, & time ran out, so unfortunately, I had to cancel the contract. 

While I understand this can happen from time to time, I want to learn from this and not let properties slip through my hands again if I can help it. 

What are some successful strategies you've used to renegotiate asking price with sellers once the inspection period is over? 

Looking for things to say, how to negotiate, etc. 

Any info helps, 

Thanks! 

-Akuda