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Member of the Ulster Member of the New York |
Buying a House |
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Seller Accepts, Rejects or Counter-Offers Once the offer is presented to the seller, he or she can respond with an acceptance, rejection or counter-offer. There is no formula that will dictate how many offers or counter-offers it will take to accomplish an agreement in any particular real estate transaction. Often, the seller does not accept all terms or contingencies, so a counter-offer is likely. Counter-offers may contain small modifications to the offer or refusal of some of the contingencies. Once the counter-offer is made to the buyer, the buyer then considers the seller’s demands and has a chance to accept or reject or counter-offer back. The process continues until all buyer and seller concerns are resolved and both parties agree to a compromise. |
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