"A counteroffer is the seller's response to your original offer, proposing different terms instead of accepting it outright. This might include a higher purchase price, a different closing date, shorter contingency timelines, or changes to repair requests and credits. Once a counteroffer is presented, your original offer is no longer active."
"It's natural to focus on price first, but a smart buyer looks at the entire contract. Review every term in the counteroffer, not just the price. Closing dates, contingencies, and credits all affect the deal. Receiving a counteroffer means the negotiation is still alive, and how you respond matters."
A counteroffer is the seller's response to an original offer, proposing different terms such as higher purchase price, different closing dates, shorter contingency timelines, or changes to repair requests and credits. When a counteroffer is presented, the original offer becomes inactive, leaving buyers with three options: accept the new terms, reject them, or submit their own counteroffer. Smart buyers review the entire contract beyond just price, examining purchase price, offer expiration, contingencies, closing timeline, and repair requests and credits. Successful negotiation requires staying focused on the full picture, understanding that closing dates, contingencies, and credits significantly affect the deal outcome, and establishing clear walk-away numbers before responding.
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Read at Redfin | Real Estate Tips for Home Buying, Selling & More
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