Which of the following is not true if a counter offer is made by the seller?

Study for the Indiana RECP Comprehensive Test. Utilize flashcards and multiple-choice questions, each with hints and explanations. Prepare to ace your exam!

When a seller makes a counteroffer, the dynamics of the negotiation change, and the buyer transitions into a different role. The buyer is no longer the original offeror; rather, they become the offeree in this context. A counteroffer represents a rejection of the initial terms provided by the buyer and presents the seller's modified terms, thereby shifting the emphasis of the negotiation.

In this situation, the buyer must now respond to the new terms laid out in the counteroffer. If the counteroffer is accepted, a contract of sale can indeed be established, which solidifies the importance of how roles are defined during these negotiations. Consequently, the assertion that the buyer retains their status as the offeror after a counteroffer is made is not accurate. The buyer becomes the party that can either accept or reject the seller's new proposal, which underscores the shift in roles in the negotiation process.

This understanding highlights the fluid nature of negotiation dynamics in real estate transactions, especially in regard to offers and counteroffers.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy