counteroffer

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Counteroffer

A second or subsequent offer to purchase an asset. For example, if the asking price on a house is $150,000, a potential buyer may make an initial offer of $125,000. In such a case, the seller may make a counteroffer for $140,000. Counteroffers are only made if the price is subject to negotiation.

counteroffer

An offer that differs from the previous offer in some significant detail.A counteroffer rejects the prior offer by operation of law, and instead makes a new offer that must either be accepted or rejected by the other party.

Example: A seller offers to sell her home “as is” for $250,000.

• A buyer offers to buy the home for $240,000, but the seller must replace the roof and recar- pet the house (counteroffer).
• The seller replies that she will sell for $235,000 “as is” (another counteroffer).
• The buyer replies that he will pay $210,000 “as is” (another counteroffer).
• The seller sees things going downhill and says, “Wait, wait, I accept your first counteroffer of $240,000 and I will repair the roof and carpet.” However, the seller cannot do this, because that offer no longer exists and cannot be accepted.

References in periodicals archive ?
Price Alerts and Counter Offers are the culmination of over 100 man-years of engineering and are only possible because of the amazing efforts of our talented and dedicated team.
Counter offers can also start a trend among colleagues if they start to use other job offers to blackmail their employer into giving them promotion.
com community via Vault's message boards, as well as pen articles on issues such as counter offers, the disappearance of merit pay programs, and launching an HR career.
This wireless platform will assist our traders by keeping them continuously informed of any mission critical platform information, including notifications of trades, counter offers or acceptances and alerts," says E.
While small businesses are having retention problems, only about a quarter (27 percent) are willing to make counter offers to resigning employees.