Contracts
Counteroffer
A response that changes the terms, rejecting the original offer and making a new one
Any change to the terms — price, closing date, what stays with the house — rejects the offer and puts a fresh one on the table. Roles swap: the person who countered can now be accepted or rejected in turn.
How the exam asks about it
The consequence people miss: the original offer is dead. A seller who counters cannot later go back and accept the buyer’s first offer if the counter is refused.
Related terms
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