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Real Estate Glossary

What does Counteroffer mean?

A counteroffer is a response to an offer that has been made for a property. When someone makes an offer to buy a property, the seller has the option to accept the offer, reject it, or make a counteroffer. A counteroffer can involve changing the terms of the original offer, such as the price, the closing date, or the contingencies. If the buyer accepts the counteroffer, it becomes a new and binding agreement. If the buyer rejects the counteroffer, the negotiation process can continue or come to an end.

Anticipatory Breach

Appraisal Report

Backup Offer

Blue-Ribbon Condition

Capital Expenditure

Classified Property Tax

Construction Budget

Covenant

Eminent Domain

Facade

Half-Bath

Home Sale Contingency

Pre-Sold Home

Prepaid Interest

Probate Sale

Production Home

Real Estate

Seller Broker

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IDX© information is provided exclusively for consumers’ personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate.

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Artur

Real Estate Assistant