What is a counteroffer?
The Bankrate.com financial term of the day is: "Counteroffer"
When you're selling your home and get an offer that has you saying, "You've got to be kidding!" you can try to nudge the buyer toward something more to your liking by making a counteroffer. It's part of the buyer-seller negotiating process. With a counteroffer, you reject the previous offer by putting forth an alternative with different terms, such as a higher purchase price or quicker closing date.
A counteroffer is your way of saying, "No thanks -- but how about this instead?"
To find a great rate on a home loan, visit the Mortgage section at Bankrate.com.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.
The conforming loan limit will stay at $417,000 for one-unit properties in most U.S. counties, the Federal Housing Finance Agency said Wednesday.
... Read more