What is a counteroffer?
A counteroffer is the offer a party makes as a response to an offer or counter offer. In a negotiation, it is all subsequent offers to the initial offer, no matter which party is initiating the response.
If you are a buyer and you submit your offer, the seller will have the chance to review it and respond as they wish. They may accept, decline, or counteroffer you. In response to their counteroffer, you may also initiate a counteroffer to them.
Homepie’s online negotiation tool makes the negotiation process easy for all parties enabling the buyer and seller to negotiate back and forth in real time. The second you submit an offer or counter offer, the other party is notified immediately. At the end of the negotiation process, once all terms are agreed to, a bona-fide purchase contract will be generated, and all parties will be asked to digitally sign it. Once digitally signed by all parties, you will have a legally binding purchase contract.