Real Estate Purchase Counter-Offer

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A real estate purchase counter-offer is a response made by either a buyer or seller when negotiating the terms of a sale of the property. It is common to give the other party between 48 to 72 hours to agree to the counter offer. The counter-offer becomes legally binding after all parties have signed and should be attached to the purchase agreement.

How to Counter-Offer in Real Estate

Step 1 – Receive the Offer

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.

Step 2 – Write the Counter-Offer

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.

Step 3 – Wait for Acceptance

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.