Mortgage Glossary
Counteroffer
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A counteroffer is a response to an offer that changes one or more terms, rejecting the original while proposing new conditions.
What Counteroffer means
Any change to price, closing date, contingencies, or included items creates a counteroffer, and the original offer is void. Negotiation often involves several counters before agreement. Either party can walk away at any point.
Florida example
A seller in Fort Myers countered a $300,000 offer at $312,000 with a 30-day close; the buyer countered again at $307,000, and they settled there.
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