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Real Estate vocabulary · Buying & Selling

Counteroffer

Meaning in real estate, with examples

/ˈkaʊntərˌɔːfər/nounCommon term

In real estate, counteroffer means: A new proposal made in reply to an offer, usually with a different price or conditions, which the other side can accept, reject or answer again.

In Turkish: karşı teklif

How it is used

Common in US sales, where buyers and sellers may exchange several written counteroffers. Also spelled counter-offer. As a verb people simply say counter: 'The seller countered at 510,000.'

Example sentences

  1. The seller rejected our offer but made a counteroffer at 495,000.

  2. We have 24 hours to respond to the counteroffer.

Common collocations

  • make a counteroffer
  • accept a counteroffer
  • respond to a counteroffer
  • final counteroffer
  • offerThe price a buyer formally proposes to pay for a property, often with conditions such as a completion date or a successful inspection.
  • negotiateTo discuss the price and terms of a sale or lease with the other side in order to reach an agreement that both can accept.
  • asking priceThe price a seller puts on a property when it goes on the market. Buyers may offer less or, when demand is strong, more.
  • purchase agreementA written contract between buyer and seller that sets out the price, conditions and dates of a property sale before ownership is transferred.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Buying & Selling

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