Contracts
A counteroffer by the seller:
AKeeps the original offer open while adding new terms
BRejects the original offer and creates a new offer✓ Correct
CAutomatically creates a binding contract
DMust be accepted within 24 hours
Explanation
A counteroffer simultaneously rejects the original offer and proposes new terms. Once the seller counters, the original offer is dead — the buyer can accept the counteroffer, reject it, or counter again.
Related Idaho Contracts Questions
- An Idaho buyer includes a financing contingency in their offer. If the buyer cannot obtain financing, they may:
- An alienation clause (due-on-sale clause) in a mortgage requires:
- What is an 'as-is' clause in an Idaho real estate contract and what does it actually mean?
- An 'as-is' clause in a purchase contract means:
- A seller accepts a buyer's offer. The next day, before the buyer is notified, the seller gets a better offer. Can the seller accept the better offer?
- What is 'earnest money' in an Idaho real estate transaction?
- What is 'anticipatory repudiation' of a real estate contract in Idaho?
- What is an 'appraisal contingency' in an Idaho purchase contract?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →