OFFER/COUNTER-OFFER

An Offer to Purchase Real Estate can be used to make a firm or conditional offer. A firm offer means the buyer is willing to purchase the property without any specified conditions. If the seller accepts a firm offer, the transaction can be completed without further negotiation.

A Counteroffer means, the original offer was rejected and replaced with another one. The counteroffer gives the original offeror three options: accept the counteroffer, reject it, or make another offer. There is tipically no binding contract between the parties involved until one accepts the otherĀ“s offer.

Last updated byDaniel Graffigna