Counter offer vs. addendum

[bfriendly]

It looks like the Addendum is part of the transaction. I would consider the Addendum terms in my analysis.

Also, for PE and Mike B-

All terms do not have to be restated on subsequent counter offers.

Counter offers generally have a statement to the effect: "All other terms and conditions of the PA and all previous Counter Offers shall remain in effect except as modified by this Counter Offer" or some similar verbiage.

According to my wife(Realtor), the addenda "Rides" or STAYS and is PART of the contract so the above answer is CORRECT!
The counters on the other hand will stip any price changes, CCs etc. Key thing on any counters is that the PRICE MUST be there. IF say the LAST counter does not show the agreed price, then the original OFFER is the agreed upon price......She(my wife) just found that out the hard way, but thankfully the other agent was "Nice" and just had her fix it.

BTW-WE are in GEORGIA, so it may be different in CA

 

[Mike Garrett RAA]

Consider all of the documents in the order in which they were signed. Contract, addendum, counter offer. The last dated document takes precedence; however, the terms of the contract and addendum will still be considered UNLESS modified by the counter proposal.

 

[Smokey Bear]

Most relittors don't know squat about contracts. You make an offer. The offeree can a)ignore it, b) accept it, c) reject it or d) make a counter offer. A counter offer, by common law, rejects the original offer and places a new offer. The offeree is now the offeror. Counter offers are ONLY applicable to a contract being offered. Once the contract, with any contemporaneous addenda, is signed, counter offers are moot. They don't apply. Only an addendum to MODIFY the contract is appropriate.

Like I said, relittors act like counteroffers and addenda are interchangeable; they are not. However, the intent of the parties controls, so if they are treating a counter offer (after the contract is formed by offer and acceptance) like an addenda, I would just mention it and move on. Take the documents by date signed and analyze them according to content rather than title of the document.

Confused yet?

 

[Mike Garrett RAA]

I would suggest most REALTORS® are far better versed than most appraisers when it comes to contracts. Check out some of the required classes for licensing.

 

[David Beasley]

I would suggest most REALTORS® are far better versed than most appraisers when it comes to contracts. Check out some of the required classes for licensing.

Key word being *most* Mike, and on that point I agree. But you have to admit, there is a generation of so of agents sprinkled around out there that have trouble even operating a lock box. Don't call them on their GLA, it came directly off the tax card (our local MLS allows GLA ranges in listings, instead of a definite GLA). Don't call them on concessions on their closed sales, they're closed - yesterday's news - they don't have time to "mess with it". Detailed questions on *missing items* in a VA "buyer's preference/NBO" property? Forget it, call the builder. All the agent can tell you is the closing date and anticipated funds dispersal date - and if they were trained well, maybe the date of the walk-through prior to closing.

The proliferation of very un-professional acting REALTOR® agents is one of my gripes with this business of late. Especially those that sound as if it is an absolute burden to them to actually have to talk to you, much less answer questions on their listing or contract, or whatever. We won't even get into the ones that have to eventually "supply support" under the VA Tidewater program (Most SRAs appoint the LA as the POC). I'd rather go to the dentist then have to deal with about 95% of those deals...lol

 

[Kevin A. Spellman]

Here in MA, an accepted or rejected counter offer possesses the capacity to voids the prior offer if either party chooses to do so.

 

[Mike Boyd]

As Smoky states, the counter-offer rules IF it is dated after the addendum and IF it is signed by both buyer and seller. If not signed, it is worthless.

 

[moh malekpour]

Counter offer doesn’t totally reject the buyer’s original offer. Typically, counter offer will state that the seller has accepted the buyer's offer subject to the following items:
A
B
C
Then buyer can accept that counter offer and send it back to the the seller to sign or can give the seller a counter counter offer. The seller again can accept the 2nd counter offer, sign it and let the buyer know that it was accepted or make a 3rd counter offer and the buyer can do the same thing again.

 

[Couch Potato]

There is a reason hiring a lawyer is strongly advised when purchasing real estate.

There is no way to know if the addendum is still in effect without viewing the actual documents in question; to state otherwise is to show one's ignorance. A counter offer may or may not include parts of the original offer (or any addenda.) The best way to answer the questions is to ask them of the parties involved. Anything else is a waste of time.

 

[Karl]

Contract recieved by the Appraiser is X number of pages. There are addendums & counter offers in this contract it appears that the contract has stipulations. Appears an addendum for a pier boathouse whatever are to be considered. There is also a counter offer of X dollars, with no mention of the addendum, this Appraiser is not versed enough in Real estate law to understand the complexity of addendums & counter offers. The Appraiser is under the impression that IF a pier boat house whatever can be installed the buyer seller have agreed on the counteroffer of. This contract does not alter my opinion of value of ----- Subject to: the Pier Boathouse whatever can be legally installed. There are/are not any Piers, Boathouses on this lake, pond, ocean, river. Any question to the addendums & counter offer of any party to this transaction, It is the opinion of this Appraiser a specialist in Real Estate law be consulted.

Just calling & asking is a dangerous thing, in writing ONLY in todays world.