What Is A Counteroffer?
If the seller does not jump at the offer you have made, expect to get a counteroffer back that is a bit different from what you have offered. The owner can either accept your offer as it stands, reject it outright or respond with a counteroffer that may change terms of the original offer. By law, making a counteroffer entails rejection of the original offer which means you can then counteroffer back by making changes to the owner’s counteroffer. This process will continue until both parties are satisfied with the terms of the contract and the offering price.
Counteroffers are replies to original offers as the name implies. Much as you would verbalize a counterpoint to another person’s statement, the counteroffer is a response to an original offer. The negotiating involved with offers and counteroffers is not limited only to monetary values. For example, you may offer that your company will remove any left-over furniture or garbage for the seller as a part of the package. The seller may or may not accept it and the negotiation moves on.
Original Source:http://www.cthomesllc.com/2010/08/what-is-a-counteroffer/