Dave, Real Estate Pro in Folsom, CA

Do the buyers need to sign counter-offer#1 even if they counter the CO#1 with CO#2??

Asked by Dave, Folsom, CA Thu Dec 3, 2009

Need a confirmation that:
1. CO#1 needs to be signed by buyers with a 'check' on attached counter-offer.
2. CO#2 with updates and duly signed by the buyers as well.

Appreciate the help and time....

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Answers

4
Hi Dave,

Yes. Signing CO No.1 is better has it maintains the chain and prevents confusion. I would check the box "subject to" and the first term in CO No.2 would be that you do not agree to any term of CO No.1.

Good luck,
Cappy
0 votes Thank Flag Link Fri Dec 4, 2009
I don't know California Real Estate Law but in Arizona all parties need to sign every document to create a paper trail. Our Counter Offer has a box that you check that says another counter offer is attached so they do have to sign everything.
0 votes Thank Flag Link Fri Dec 4, 2009
Hi Dave, you should contact your broker for direction because there are two philosophies regarding how a rejected CO#1 should be handled:

1) Since there is no location to reject a counter offer, not signing a CO#1 makes perfect sense, and

2) Since there is no location to reject a counter offer, you can sign CO#1 with "acceptance subject to" a subsequent rewritten CO#2.

Personally, if the entire CO is not acceptable I write "Buyers do not agree with counter offer." and then I initial it and send a second rewritten Counter Offer with my client's signature(s). The later is based on a conversation with one of the CAR lawyers I spoke with.

Best, Steve
0 votes Thank Flag Link Thu Dec 3, 2009
Hello Dave, the answer is yes. All counter offers needs all signatures, just check the "attached counter offer".


Kindest regards,
Eva Bradley
0 votes Thank Flag Link Thu Dec 3, 2009
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