Counteroffer

Definition

  • A step in the negotiation process where a seller rejects a purchase offer from a buyer, but then submits another offer with different terms (such as price or closing date) for the buyer to consider.

Synonyms
bargain, deal, hammer down, bicker, haggle

Related Terms and Acronyms

  • Backup Offer Definition,
    • A bid for a property that the owner will consider if the current transaction falls through.
  • Bidding War Definition,
    • Multiple, competing offers for a piece of property or item that escalate the price. Usually results in a happy seller.
  • Low Ball Offer Definition,
    • A way-below-market bid a buyer makes on a property or item.
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