Counteroffer

Definition

• A step in the negotiation process where a seller rejects a purchase offer from a buyer, but then submits another offer with different terms (such as price or closing date) for the buyer to consider.

Synonyms
hammer down, bicker, haggle, deal, bargain

Related Terms and Acronyms

• Backup Offer — Definition,
  • A bid for a property that the owner will consider if the current transaction falls through.
• Bidding War — Definition,
  • Multiple, competing offers for a piece of property or item that escalate the price. Usually results in a happy seller.
• Low Ball Offer — Definition,
  • A way-below-market bid a buyer makes on a property or item.