template: Severance Letter Template

template: Severance Letter Template

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A real estate counteroffer is made by way of a home seller after having a buyer has published an offer to buy and the offer includes conditions that are not agreeable. Typically, a counteroffer expresses that the seller has accepted the buyer's offer subject to a number of changes.

Why Has the Seller Countered?Counteroffers typically talk about things like changing the full total concern to be paid for the property to a higher price or increasing how big is the earnest money first deposit. The seller might refuse to pay for certain studies or fees.

Changing the closing or possession day is another common reason behind a counteroffer, as is excluding or adding personal property from the agreement. The seller might want to modify contingency time frames or have deposits released early. She should add amendments.

It's also possible that the offer itself is actually fine, but the seller wants to fix a buyer's agent's blunder.

How Many Counters Are Normal?Equally a owner can submit a counteroffer to a buyer, a buyer can counter the seller's counter-top, which in turn becomes a counter-counteroffer or Buyer Counteroffer #1. There is no limit to the number of counteroffers that can go back and forth.

Here's a good example of five counters on a house that was listed at $415,000. The customer had published a lowball offer of $400,000. This was the effect:

Counteroffer #1 (from seller to buyer): Seller counters sales price to $412,000. Washer and clothes dryer included without warranty.Buyer Counteroffer #1 (to seller): Buyer counters sales price to $405,000. Washer and dryer included without guarantee.Vendor Counteroffer #2 (to buyer): Seller counters sales price to $409,900. Washer and dryer excluded from sales.Buyer Counteroffer #2 (to owner): Buyer counters sales price to $407,500. Washer and clothes dryer to stay as personal property.Vendor Counteroffer #3 (to buyer): Seller agrees to sales price of $407,500. Refrigerator, washer, and dryer excluded from deal.The customer finally accepted the 5th counter.

How Is actually a Counteroffer Rejected?The seller is not needed to respond to an offer.

Of course, this won't mean that the brokers involved might possibly not have earned a commission if the seller refuses to respond to a full-price-and-terms offer. The broker agents might still demand payment if the listing and state rules allows it. A nonresponse doesn't invariably lessen the seller's responsibility to the broker.

That said, there are a few common ways to reject an offer. Many purchase contracts provide a area near the bottom for the seller to original that the offer has been declined, or a seller can write "rejected" across the face of the contract then first and time it.

The list agent can email the buyer's agent to speak the actual fact that the seller will not act in response because the offer is unacceptable but sellers generally aren't required to formally reject an offer in writing.

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