rejection of an offer
to buy or sell with a simultaneous substitute offer. For example, a property is put on the market. An investor offers $75,000 in cash. The owner rejects the offer but submits a counteroffer to sell for $80,000. Offers and counteroffers may be negotiated on factors other than price, such as financing arrangements, apportionment of closing costs, and inclusion of personal property.
rejection of an offer to buy or sell, with a simultaneous substitute offer.
Example: A property is put on the market. An investor offers $750,000 in cash. The owner rejects the offer but submits a counteroffer to sell for $800,000. Offers and counteroffers may be negotiated on factors other than price, e.g., financing arrangements, apportionment of closing costs, inclusion of personal property.
