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 ?
June 9, 2015 /PRNewswire/ -- Although employee retention concerns continue to mount, a new survey suggests counteroffers aren't the answer when it comes to keeping the best and brightest.
Third, accepting a counteroffer will likely mean you'll burn your bridges with the company you intended to join as well as any contact or recruiter who helped you secure the position.
45) Section 2-207, however, assumes that the appearance of an additional or different term in a response to an offer should not necessarily be understood to manifest an offeree's intention to make a counteroffer as classical contract doctrine required.
First, we do not find evidence for behavioral differences between men and women in the process of alternating offers after first offers and counteroffers are made.
Nearly one in four (23 percent) said that they would not make counteroffers because employees would end up leaving the business in any case.
Your counteroffer creates an unnatural change of compensation that was forced by you when you resign.
Davis quotes numerous studies that show that 50% to 80% of employees who accept an employer's counteroffer leave voluntarily within six to eight months, He contends that counteroffers simply postpone the inevitable and ruin an employee's reputation and future chances of working with the recruiter or prospective employer.
Turner provides the following factors to consider when a counteroffer is extended:
Counteroffers are common, particularly for good employees.
It also facilitates offers, counteroffers, multiple scenarios, repricing, floats, locks, extended locks and funding.
The body that regulates those matters is truly a self-regulatory organization and, if you look at the results of the regulation of mergers, counteroffers and takeovers as contrasted with ours, you will conclude, as many commentators have, that the U.
Personic's two product ranges - EZ Access for the staffing industry and Personic WorkFlow for corporate hiring - automate the process of hiring from advertising to resume scanning and skills matching, with workflow funneling the paperwork of making offers and counteroffers through to actual job placement.