Here’s a list of common questions real estate agents ask their broker about counter offers, along with clear explanations:
- Can a seller issue multiple counter offers to different buyers?
Explanation: Yes, using the Seller Multiple Counter Offer (Form SMCO). The seller can respond to multiple buyers but each counter must be accepted and signed again by the seller to be binding.
- What happens if both buyer and seller sign the counter offer? Is it a binding contract?
Explanation: Yes. A counter offer becomes a binding agreement once both parties sign it and deliver a copy to the other side. Delivery is key to enforceability.
- Can we counter only part of the buyer’s offer and accept the rest?
Explanation: Yes. The Counter Offer (Form SCO) allows the seller to modify specific terms (like price, closing date, repairs) while accepting the remaining terms of the buyer’s offer.
- What is the difference between a Counter Offer and a Seller Multiple Counter Offer?
Explanation:
- Counter Offer (SCO): Used when negotiating with one buyer.
- Seller Multiple Counter Offer (SMCO): Used when negotiating with two or more buyers simultaneously to retain flexibility.
- Can a buyer counter the seller’s counter offer?
Explanation: Yes. The buyer can issue a Buyer Counter Offer (Form BCO) in response to the seller’s counter. This continues the negotiation until both sides reach agreement.
- Is a verbal counter offer enforceable?
Explanation: No. All counter offers must be in writing and signed to be enforceable under California real estate law.
- Can the seller withdraw a counter offer before the buyer accepts it?
Explanation: Yes, any counter offer can be revoked before it is accepted and delivered back. The revocation must also be in writing.
- How do we handle counters with conflicting terms (e.g., buyer and seller each change the close date)?
Explanation: If both parties counter with conflicting terms, there is no agreement until one side accepts the other’s most recent terms without modification.
- How should we handle a counter offer if escrow has already been opened?
Explanation: If terms are changing after escrow opens, they must be handled via an addendum, not a counter offer. Counters are used before acceptance.
- What if the seller makes a counter, and the buyer accepts but adds a condition?
Explanation: That is a new counter offer, not an acceptance. For a valid acceptance, the buyer must agree to all terms without adding new ones.
- Can we use an email or text message to negotiate counter offers?
Explanation: Discussions can happen via email/text, but the final counter offer must be completed on the official CAR form and signed to be enforceable.
- Can I advise my client to accept the backup offer instead of responding to a countered primary offer?
Explanation: Yes, but make sure the seller has not accepted the countered offer yet. Once accepted, the seller is contractually bound and cannot pivot to a backup.