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 ?
* Know the potential consequences of accepting a counteroffer. If you decide to stay, your employer quickly may launch a search for a replacement and your colleagues may resent you if they find out you got a raise.
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 four in 10 (36 percent) executives say that it has become more common for their organisation to issue counteroffers to employees tempted by other jobs.
Unfortunately, too many dynamics are already in play during a resignation and changing your mind and accepting a counteroffer is very dangerous and statistically not in your favor.
Although UniCare Human Resources Director Michael Guyton also agrees, be offers: "Counteroffers that address all the reasons an employee initially began a job search definitely warrant attention." He suggests seriously weighing the pros and cons of accepting a counteroffer instead of automatically dismissing it.
Studies have shown that employees who accept counteroffers typically leave--voluntarily or by dismissal--within a year, since many of the reasons that caused them to seek a new position go unresolved.
A (unreasonable and potential) BATNA mandates that a seller provide data and offers to the buyer, which likewise, causes the buyer to reevaluate its negotiating position-with resulting counteroffers, due to the same phenomenon.
According to The Washingtonian magazine, a blank check with stock options and a signing bonus drew the 60-year-old Causey to PlanetGov.com despite counteroffers from the Post, which he joined as a messenger in 1957.
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.
Someone counteroffers by reorienting the topic: "Are you interested in someone who goes from academia to PR to academia?" There is no response to the counteroffer.
Reneges often result from counteroffers. When someone accepts an offer and gives notice, the boss may decide during the notice period that the employee should be given a counteroffer.
"After several discussions, offers and counteroffers, the Republicans and I have come to an arrangement.