Question:
You receive an offer for your Sellers. They want to sign it back just a little bit higher, but are afraid of losing the offer. We’ve had the conversation of all that can happen with it if it gets sent back. The Buyer’s agent is giving me a verbal that if sellers sign back at this higher price, that the Buyers have said they will accept.
If we send back a counter offer but shorten up the time frame by an hour, and they don’t accept that counter, can we still take the untouched original offer and accept at the last hour?
Answer:
A Counter-Offer is a rejection of the first Offer.
You would have to include a disclaimer to the effect that the Counter-Offer is not to be considered as a rejection of the initial Offer. It’s still open That makes it clear.
However, the Buyer’s agent should read between the lines and know that your clients will really be accepting their first Offer.
Brian Madigan LL.B., Broker