Updated September 17, 2023
A real estate purchase counter-offer is a written response made by either a buyer or seller when negotiating a real estate transaction. It is common to give the other party 48 to 72 hours to agree to the terms stated in the counter-offer. If the other party doesn’t agree or respond, the agreement and all prior offers become void and non-binding.
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How to Make a Counter-Offer (3 steps)
Most commonly, the seller will be making a counter to the buyer’s offer. The seller will reference the purchase agreement by entering its date.
The seller will make the counter-offer and include terms they would like to include. Once complete, the seller will sign and attach to the original purchase agreement.
After sending, the buyer will have until the end of the expiration period to accept its terms. After the buyer signs, the counter-offer becomes legally binding after the seller has been made aware the buyer has accepted the terms.
Note: Up until the other party signs and accepts the terms of the counter-offer, the sending party may cancel its terms at any time.
Sample
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