It is a type of offer that is made in a response to another offer that has not been accepted. This revises the initial offer and makes it more appealing for the person who is to make new offer. Accepting a counteroffer will allow you to decline the offer that has been made previously. This gives ample time to negotiate.
A counter offer is mainly made by the seller after a buyer has submitted his quote to purchase a property. And this will also state that the offer by a buyer has been accepted by the seller that too with certain considerations like;
Total of the considerations that is generally of higher price.
There is an increase of size in the deposit of earnest money.
Refuse to pay some fees.
Change in the service provider.
One can alter closing or the date of possessions.
One can exclude all of the property that is personal.
Modifying the timeframes of the unforeseen events.
Only a seller can offer a counter offer to a buyer and a buyer can offer a counter to the counter offer by the seller that will become a counter- counter offer or as counter offer No. 2. These counter offers contains expirations that too similar to purchase offers. A seller can accept many offers while the buyer can decide on the agreement of the counter offer that is made to him.
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