What happens to an offer once it is countered by the buyer?

When a buyer counteroffers, it effectively constitutes a rejection of the original offer. This counteroffer introduces new terms or conditions that differ from those initially proposed. By making a counteroffer, the buyer does not simply amend the original offer; instead, they are proposing a new offer for consideration. As a result, the original offer no longer stands. It has been supplanted by the counteroffer, which means that the original offer is voided in the sense that it can no longer be accepted in its previous form.

This concept is a fundamental principle in contract law, emphasizing the importance of understanding how offers and counteroffers function in negotiations. Once a counteroffer is made, both parties must then consider the new terms presented, and it is up to the original offeror to either accept the counteroffer, reject it, or make another counteroffer in return. This process illustrates the dynamic nature of negotiations in real estate transactions.