Counteroffer
Initial offer to buy or sell answered with a revised offer. For example, a buyer offers $500,000 for a home put on the market. The owner rejects the offer but submits a counteroffer for $525,000. Offers and counteroffers are not limited to price, but comprise such matters as financing arrangements and apportionment of closing costs.
Popular Real Estate Terms
In the US public-land survey terminology, range lines refer to two parallel north and south lines. In other words, range lines are north-south division lines used in the government’s ...
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