Definition
A response to an offer that changes one or more terms, legally rejecting the original offer and creating a new one.
Example
The seller's counteroffer raised price by $8,000 and shortened the inspection period to seven days.
Related terms
Frequently asked questions
What does Counteroffer mean in real estate?
A response to an offer that changes one or more terms, legally rejecting the original offer and creating a new one.
How is Counteroffer used in practice?
The seller's counteroffer raised price by $8,000 and shortened the inspection period to seven days.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.