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Dan, Home Seller in Goodales Landing, Au...

can a seller of a home in colorado cancel his counteroffer to a buyer before response date?

Asked by Dan, Goodales Landing, Augusta, GA Sun Feb 10, 2008

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Dan, hopefully you have not had an "acceptance" of the counteroffer - if not, then I would immediately withdraw your counteroffer in writing - my sense, and I am not an attorney, is that the critical issue here is whether the counteroffer has been accepted and communicated back to you (or your agent if you are using one). The response date is only a date that causes your counteroffer to terminate if not accepted.

My observation and experience is that it is very difficult in Colorado for a Seller to terminate a contract unless the Buyer requests something new (for example during the inspection process - even then, the Buyer still has a right to move forward with the purchase even if the Seller does not repair the item)...so, if you do not want to sell under the terms you proposed, I would move quickly to withdraw (in writing) your counteroffer.

Let us know how it turns out - good luck.
1 vote Thank Flag Link Sun Feb 10, 2008
In the state of Colorado, yes, the seller can cancel his counteroffer to a buyer as long as the buyer hasn't sent in the signed counteroffer, stating acceptance of the counter. You are not under contract until all parties have signed.

So with that said, when dealing in real estate transactions, it is important to know what you want in a home and be able to react quickly when an offer is on the table. People want to sell a home and if another offer comes in and you haven't sealed the deal...they can rescind their counter and move on.
0 votes Thank Flag Link Mon May 19, 2014
Absolutely! Technically unless there is earnest money and an executed contract (with signatures) there is no agreement and therefore not under contract. Even in a counteroffer situation, if you are the seller and you have put in a counter you can rescind that counter until the point of acceptance by the buyer.

Hope this helps!
0 votes Thank Flag Link Tue Apr 1, 2014
Yes...known as rescinding the offer if not already accepted by both parties. Hope this helps. Cheers!
0 votes Thank Flag Link Mon Jul 8, 2013
The previous answers are correct you can cancel an offer until both parties have signed either an offer or a counter proposal. So this being said if you receive an offer make sure to present it to your client in a timely fashion.
0 votes Thank Flag Link Mon Jul 8, 2013
Dan,
Good question! If the Buyer has not signed the counter offer yet you can rescind the offer if put into writing. If the Buyer has signed the counteroffer you are technically under contract. If your working with a broker they should understand this. I would have your broker or you call the Buyers broker and ask if they have the counter signed and in their possession. If they don't, then write up a letter rescinding your counteroffer. If they say they do have them send it to you right away. Sometimes they might know their Buyer will be signing the counter, but do not have it signed yet. Good Luck!

Chris Gempeler
0 votes Thank Flag Link Tue Feb 26, 2008
Dan: I agree with Mr. Walden's answer. The key is whether the other party has accepted (and communicated that acceptance to you). If you want to withdraw the counteroffer, you must do so in writing and get your withdrawal to the other party before that party accepts your counter. Good luck.
0 votes Thank Flag Link Mon Feb 11, 2008
All real estate is local but, I will go out on a limb on this one.

Until a contract is ratified by all parties to the contract, it can be cancelled. Until an acceptance is communicated, anything can happen. Can they effectively cancel prior to acceptance of the counter? I would certainly think so.
0 votes Thank Flag Link Sun Feb 10, 2008
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