Ordinarily we say that a prospective buyer makes an offer to buy a seller’s property. The seller, in turn, may make a counteroffer. After going back and forth they may settle on a purchase price.
I have a different take on the matter, and it may be a distinction that doesn’t make a difference, but here it is. I say the seller is making an offer to the public to sell his or her property at a particular price, etc. The seller starts the offer process.
A prospective buyer, in effect, makes a counteroffer to the seller: “I won’t pay that price for your property but I will pay you X dollars for it.” The seller, in turn, says, “I won’t sell it at the price you said, but I will sell it for Y dollars.”
And so they meet in the middle at Z dollars. What we have, therefore, is the seller making an offer to the public, a buyer making a counteroffer, and then the seller making a counteroffer, and finally an agreement on price. Once they agree on terms and conditions, and both sign, we get a contract.
If you are planning to buy or sell real estate this year and could use some helpful hints or professional help, call me: 229-924-3089.