Offers and Counteroffers - General Laws
In this unit, we will cover the general legal principles governing offers and counteroffers in real estate transactions. You will understand the essential elements of making and responding to offers.
Offers and counteroffers are fundamental aspects of real estate transactions. An offer must be clear, definite, and communicated to the other party. Counteroffers modify the original offer and must also meet the legal requirements of clarity and communication. Both parties must agree to the terms for a binding contract to be formed.