Can I walk back an asking price I already gave a buyer in conversation?

Legally, generally yes, as long as you haven't put that figure into a signed agreement or a document, such as a letter of intent, that specifically commits you to it. A number mentioned in early conversation, even a specific one, is typically not binding, and buyers usually understand early discussions as exploratory rather than final, particularly before any financial information has actually been shared or verified.

The nuance is the practical cost to your credibility, which is separate from the legal question. Walking back a number without a clear, legitimate reason, such as new information about the business's performance, a professional valuation that came in differently than expected, or a change in what you're including in the sale, can make a buyer question whether they can trust anything else you tell them, and word of an unreliable seller can spread faster than you'd expect, especially among buyers or brokers who talk to each other.

If you need to revise a number you've mentioned, being upfront about why, rather than simply changing it without explanation, tends to preserve the relationship far better. A business lawyer can help you communicate a legitimate revision in a way that protects your credibility.