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COUNTEROFFER ADDENDUM This form approved by the North Dakota Association of REALTORS, which disclaims any liability out of use or misuse of this form. This form is only for use by licensed REALTORS

How to fill out counter offer addendum

How to fill out counter offer addendum

1. Review the original offer and understand the terms presented.
2. Identify the specific points in the offer that you would like to negotiate or change.
3. Draft a counter offer addendum outlining the changes you are proposing.
4. Include details such as the revised price, closing date, and any other terms you wish to change.
5. Submit the counter offer addendum to the other party for their review and consideration.
6. Negotiate any further changes or amendments until both parties agree on the final terms.
7. Sign the counter offer addendum once all terms have been agreed upon.

Who needs counter offer addendum?

1. Anyone involved in a real estate transaction who wants to negotiate or change the terms of an initial offer.
2. Buyers or sellers who are not satisfied with the terms presented in the original offer.
3. Real estate agents representing clients who need to make adjustments to an offer before it can be accepted.

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What is counter offer addendum?

A counter offer addendum is a document that modifies the terms of an original offer in real estate transactions. It outlines changes proposed by the buyer or seller after an initial offer has been made.

Who is required to file counter offer addendum?

Typically, the party making the counter offer, either the buyer or seller, is required to file the counter offer addendum with the relevant real estate authority or as part of the contractual process.

How to fill out counter offer addendum?

To fill out a counter offer addendum, include the original offer details, state the changes being proposed, specify the new terms, and ensure both parties sign the document to confirm acceptance.

What is the purpose of counter offer addendum?

The purpose of a counter offer addendum is to formally present and document changes to the terms of a real estate offer, allowing negotiation between the parties involved.

What information must be reported on counter offer addendum?

The counter offer addendum should report the original offer details, the proposed changes to the terms, the reasons for the changes, and signatures from both parties.