Under the Uniform Commercial Code (UCC) Sec. 2-207(1), A definite expression of acceptance or a written confirmation of an informal agreement may constitute a valid acceptance even if it states terms additional to or different from the offer or informal agreement. The additional or different terms are treated as proposals for addition into the contract under UCC Sec. 2-207(2). Between merchants, such terms become part of the contract unless: a)the offer expressly limits acceptance to the terms of the offer, b)material alteration of the contract results, c)notification of objection to the additional/different terms are given in a reasonable time after notice of them is received.
A Wisconsin counter offer letter regarding the sale of property is a written document used in a real estate transaction when a seller wishes to make changes to the terms proposed by the buyer. It is a legal response to an initial offer and serves as a negotiation tool to reach a mutually agreed-upon agreement. The letter outlines the amendments to the original offer, such as price changes, modifications to the closing date, or adjustments to any contingencies mentioned. In Wisconsin, there are several types of counter offer letters regarding the sale of property, including: 1. Price Adjustment Counter Offer: This type of counter offer letter is used when the seller proposes changes to the purchase price mentioned in the initial offer. It may include a higher asking price, lower price, or a specific price adjustment based on market conditions or property valuations. 2. Closing Date Counter Offer: When a seller needs more time or wishes to expedite the transaction, they can counter with a new closing date. This may be due to personal circumstances or the need for additional time for repairs or inspections. 3. Contingency Modification: A counter offer letter might address changes to contingencies in the initial offer, such as financing, inspection, or appraisal contingencies. The seller can propose adjustments to the terms to accommodate their requirements while still ensuring a successful sale. 4. Repairs or Renovation Counter Offer: In certain cases, the seller may agree to address specific repairs or renovations requested by the buyer. They can counter with a revised offer that includes the cost of the requested improvements or negotiate for a lower price in lieu of making the repairs. 5. Concession Counter Offer: If the buyer has requested certain concessions or incentives, such as covering closing costs or including specific appliances in the sale, the seller can respond with a counter offer specifying the agreed-upon terms. It is important to note that a counter offer letter is not binding until the buyer accepts the proposed changes. Once both parties agree upon the modifications outlined in the counter offer, it becomes a legally binding contract. Seeking guidance from a real estate attorney or agent is advisable to ensure compliance with Wisconsin law and protect the interests of both the buyer and seller.
