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Richard, Attorney
Category: Legal
Satisfied Customers: 55477
Experience:  Attorney with 29 years of experience.
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If a 1st buyer makes an offer and a counter offer is made with

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If a 1st buyer makes an offer and a counter offer is made with different terms to that buyer. Before you hear back from that 1st buyer whether they accept a counter offer you receive another offer for better terms from a 2nd buyer are you bound to the 1st buyer nothing was signed or officially done on their verbal acceptance of a counter offer??
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Can you provide a bit more information? Is real estate the subject of these contract negotiations? Thanks.
Customer: replied 3 years ago.
Customer: replied 3 years ago.


Thank you for your quick reply! If Party A makes an offer and then Party B makes a counter offer, under contract law, Party B's counter offer is considered a rejection of the initial offer by Party A, which automatically terminates the initial offer that was made by Party A. The counter offer made by Party B is considered a new offer which Party A can then accept or reject. Furthermore, under contract law, Party B can withdraw its offer at any time prior to Party A accepting Party B's offer by signing Party B's offer and returning a signed original to Party B. But, at any time before Party A does so, Party B has the right to withdraw their offer in which case it is deemed terminated. Contracts relating to real estate are required to be in writing and signed to be valid under California Civil Code 1624(a)(3). So, as long as Party B withdraws their offer (i.e, the counter offer) to Party A before Party A signed Party B's offer and returns the signed contract to Party B, Party A has no further rights to the property and Party B is free to accept any offer from a third party.

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