What is a counter offer in real estate?

Counter offers are typically handled between real estate agents and are time-sensitive. A counter offer is one of three responses a seller can give to a potential bid — the other two are to accept the buyer's initial offer or reject it outright. The point of a counter offer is to negotiate the best terms and best price for both parties.

What is a counteroffer in home buying?

In the home buying process, a counteroffer is an offer made in response to the original bid. When a seller gets an offer, they can choose to accept, reject or counter. In return, if the seller makes a counter, a buyer can also choose to accept, reject or counter it.

How much is a counter offer for a home sale?

The seller provides a counter offer of $190,000 with a deadline in three days. The buyer accepts with home inspection and financing contingencies. Then, the sale moves forward. Quick Tip: Expect a lot of back and forth. Everything in real estate is a negotiation. It’s not just the counter offer... Post-inspection updates and repairs. Closing costs.