A "counteroffer" is a new offer that is different from the first one. When this happens, the first offer is no longer in effect.
These are questions that the above text answers:
1. What is a counteroffer in real estate?
2. How does a counteroffer differ from the initial offer in real estate?
3. What happens to the first offer when a counteroffer is made in real estate?
4. Can a counteroffer be the same as the initial offer in real estate?
5. What effect does a counteroffer have on the initial offer in real estate?
6. In real estate, what is the purpose of making a counteroffer?
7. Is a counteroffer legally binding in real estate?
8. Can a counteroffer be withdrawn in real estate?
9. Are there any specific requirements for making a counteroffer in real estate?
10. How should one respond to a counteroffer in real estate?