Compliments of Lynn Fredregill * RCR Properties, Inc.

Do counteroffers have to be in writing?
(Source:  TexasRealtors.com)

I am the listing broker. My client told me to call the agent for a prospective buyer with his counteroffer of several thousand dollars more than the offer made by the buyer. The buyer’s broker insists that the seller must make a formal counteroffer in writing or reject the buyer’s offer in writing. Does the seller have to respond in writing?

No. A seller has no legal duty to respond to an offer in any particular way. A verbal counteroffer could expedite the negotiations for the sale of property in many cases. Of course, once there is a meeting of the minds about the terms and conditions of the sale, the parties should promptly reduce the agreement to writing and sign the contract to make it a binding obligation.

A seller could respond to a buyer’s offer by using the Seller’s Invitation to Buyer to Submit New Offer (TAR 1926). This form would be particularly useful where the seller’s proposal contains several changes to the buyer’s offer. By using this form, the seller is free to consider other offers without having to be concerned about the withdrawal of a previous, written counteroffer.



Compliments of Lynn Fredregill * RCR Properties, Inc.