A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. It is a new offer made in response to an offer received. It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror. However, with regard to sales of goods, Article 2-207 of the Uniform Commercial Code provides: "A definite and seasonable expression of acceptance or a written confirmation which is sent within a reasonable time operates as an acceptance even though it states terms additional to or different from those offered or agreed upon, unless acceptance is expressly made conditional on assent to the additional or different terms."
Title: Understanding Washington Letter and Notice to Buyer Accepting Counteroffer — Acceptance with Additional Terms Keywords: Washington letter, acceptance, counteroffer, buyer, additional terms, real estate transaction Description: The Washington Letter and Notice to Buyer Accepting Counteroffer — Acceptance with Additional Terms is a vital document used in real estate transactions. It serves as a formal acceptance from the buyer to the seller's counteroffer while incorporating additional terms to the original purchase agreement. In Washington state, when a seller presents a counteroffer to a buyer, the buyer has the option to accept the counteroffer with certain modifications or additional terms. The purpose of this letter is to outline those modifications and signify the buyer's acceptance of the revised offer. Types of Washington Letter and Notice to Buyer Accepting Counteroffer — Acceptance with Additional Terms: 1. Residential Real Estate Acceptance with Additional Terms: This type of letter is specifically designed for residential real estate transactions in Washington state. It enables the buyer to accept the seller's counteroffer while proposing additional terms or conditions to be included in the final agreement. Examples of additional terms may include an extended inspection period, repairing specific issues discovered during inspection, or adjusting the closing date. 2. Commercial Real Estate Acceptance with Additional Terms: This version of the letter is tailored for commercial real estate transactions. It allows the buyer to accept the counteroffer presented by the seller while introducing supplementary terms or conditions. These additional terms might pertain to lease agreements, maintenance responsibilities, or specific commercial zoning requirements. 3. Vacant Land Acceptance with Additional Terms: When buying vacant land in Washington state, buyers often need to negotiate specific terms with the seller. This letter enables the buyer to accept a counteroffer while suggesting additional terms related to land use, zoning restrictions, or any necessary permits required for development. In all types of Washington Letter and Notice to Buyer Accepting Counteroffer — Acceptance with Additional Terms, it is crucial to clearly state the modifications or additional terms requested by the buyer. This ensures that both parties are aware of the changes and can proceed with the transaction accordingly. It is advisable to consult with a real estate attorney or agent to ensure the document adheres to all relevant state laws and adequately protects the buyer's rights. By utilizing this letter, buyers in Washington state can accept counteroffers while introducing necessary modifications or additional terms to meet their specific requirements, ultimately facilitating a smoother real estate transaction process.
