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Can I Counter A Counteroffer In A Saskatchewan Real Estate Negotiation??
Dated: April 4 2023
Views: 36
In Saskatchewan, it is standard practice for a seller to make a counteroffer to a buyer's initial offer, but for the buyer to not have the ability to further counter the seller's counteroffer. This is because in Saskatchewan, the real estate transaction process follows the "traditional offer" method, where the buyer makes an initial offer, the seller makes a counteroffer, and the buyer either accepts or rejects the counteroffer.
Once the seller has made a counteroffer, it effectively terminates the buyer's original offer. The buyer then has the option to accept the seller's counteroffer or reject it and end negotiations. The buyer cannot make another counteroffer because the seller's counteroffer effectively replaces the original offer, and the buyer must either accept or reject the counteroffer as is.
This practice is common in Saskatchewan real estate and is typically outlined in the purchase contract. It's important to carefully review the contract and understand the terms and conditions before making an offer on a property in Saskatchewan.
Russ Parry
Born in the North West of England, Russ emigrated to Saskatchewan in March 2013 bringing with him an extensive knowledge in the transport industry, as well as knowledge in the areas of construction, b....
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