Скачать или смотреть What to do when you receive or make a counter offer as a realtor ( real estate agent)

This Thriving Thursday I’ll talk
About Counteroffers!!
Also
I can’t believe IT’S JULY!!!!!!

We all know how fast properties are going right now
so we all need to make sure what it means
when you receive or make a counter offer.

I just read a very interesting article from the
Michigan Realtors magazine. Yes I read them!

VERY IMPORTANT HERE-
Once a counteroffer is made,
the initial offer is no longer on the table

You cannot simultaneously accept and
change an offer.
Even if you make a MINOR change to the PA
you have made a counteroffer.

And we know once you make a counteroffer the
initial offer is no longer on the table!!!

So that means if the Seller counters an offer
the original offer is no longer valid!

A party who has made changes to an offer
which are not accepted cannot say oh those were
“ just suggestions” and then withdraw those
“suggestions” and accept the original offer.

If you’ve countered be prepared to not have
an offer anymore

Another item learned from the article is
marking up and initialing changes to
the PA is not the cleanest way
to make a counteroffer.

Lets review the following rules
of contract interpretation:

In the event of a conflict between
the preprinted form
and specifically added language, the
specifically added language controls.
In the event of a conflict between two
specifically added provisions, the provision
that is later in time controls.

SO in order to use these rules you need
to know when each provision was added to
the contract.

And this becomes a bit tricky or impossible
if there are a bunch of initialed changes.

So the article states it is best practice to
prepare a dated addendum for each
counter offer And any
subsequent change.

I know this topic can seem a bit dry
and confusing but it is important
to understand and to
tell your clients about.

As always,
If you have any questions, I’m here for you.

Have a wonderful 4th of July weekend
Stay Safe and be kind to each
other out there
the market is crazy
so let’s be nice