Definition of "Counteroffer"

Patricia Golden real estate agent
Patricia Golden, Real Estate Agent eXp Realty LLC

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.

 

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