Quick Answer
When a seller doesn't love your opening offer but wants to keep negotiating, they'll send back a counteroffer, maybe a higher price, an earlier closing, or fewer contingencies. You can accept it, reject it, or counter it yourself, and deals often go through two or three rounds before landing on a purchase agreement both sides sign.
- What it changes
- Any term: price, dates, contingencies, concessions
- How many rounds
- Often two to three before agreement
- Is it binding
- Only once both sides sign the same version
- Common in
- Multiple-offer and negotiated deals alike
How Counteroffers Work
A counteroffer voids the original offer and puts a new proposal on the table. The other side then has the same three choices you did: accept, reject, or counter back.
Nothing is locked in until both parties have signed off on identical terms; verbal agreements or texted changes don't replace the written document.
What Typically Gets Countered
Price is the obvious one, but counters also cover closing dates, what's included in the sale, repair credits, and seller concessions toward closing costs.
In a competitive market, a seller might counter several buyers at once to see who improves their offer, sometimes alongside an escalation clause from one of the buyers.
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Frequently Asked Questions — Counteroffer
Can I counter a counteroffer?
Yes, there's no limit on how many rounds you can go, though most negotiations settle within a few.
Does a counteroffer cancel the original offer?
Yes; once a counter is sent, the original offer is off the table and only the newest terms are live.
Can a seller counter multiple buyers at the same time?
Yes, Indiana sellers can send counters to more than one interested buyer simultaneously until one is signed.
Is there a deadline to respond to a counteroffer?
Counteroffers usually include an expiration time or date; if you don't respond by then, it typically expires.