Contracts
In Texas, a 'counter-offer' letter marked as counter-offer #3 indicates:
AThree separate buyers are competing
BThe parties have exchanged three rounds of offers and counteroffers without yet reaching agreement✓ Correct
CThe property has been listed three times
DThree contingencies remain unresolved
Explanation
When parties are negotiating a real estate contract, each counteroffer terminates the previous offer and proposes new terms. Counter-offer #3 means there have been three rounds of proposals without agreement—likely buyer offer, seller counter #1, buyer counter #2, and now seller counter #3. Each exchange is a new offer.
Related Texas Contracts Questions
- In a Texas residential contract, which clause protects the buyer if the property's appraised value comes in below the contract price?
- In a Texas transaction, when the seller accepts the buyer's offer, acceptance must be communicated to the buyer. Under contract law, the offer is accepted when:
- Under Texas law, the 'buyer's right to terminate' in a TREC residential contract without an option period exists primarily when:
- The TREC promulgated form for 'Amendment' to a contract is used when:
- When a Texas buyer enters into an option contract for a property, the 'consideration' for the option itself is:
- TREC's Addendum for Property Subject to Mandatory Membership in an Owners Association (HOA Addendum) requires the seller to:
- TREC's Addendum for Sale of Other Property by Buyer allows the buyer to make the purchase contingent on the sale of their current home. If the seller receives another acceptable offer during this contingency period, the buyer typically has:
- Under the TREC contract, if the property is condemned by a government agency before closing, the buyer typically has the right to:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →