A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. It is a new offer made in response to an offer received. It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror. However, with regard to sales of goods, Article 2-207 of the Uniform Commercial Code provides: "A definite and seasonable expression of acceptance or a written confirmation which is sent within a reasonable time operates as an acceptance even though it states terms additional to or different from those offered or agreed upon, unless acceptance is expressly made conditional on assent to the additional or different terms."
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.Carta con aceptación condicional de la propiedad que especifica el lugar de cumplimiento - Letter with Conditional Acceptance of Property Specifying Place of Performance
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US-01263BG
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Key Concepts & Definitions
Conditional Acceptance of Property: In real estate, a letter with conditional acceptance of property is a formal document where the potential buyer agrees to accept the property under certain stipulated conditions. This often includes contingencies on property inspections, mortgage approvals, or the sale of another property.
Step-by-Step Guide
- Gather Information: Begin by collecting all relevant information about the property and your conditions for purchase.
- Draft the Letter: Compose a letter stating your acceptance of the property, contingent on specified conditions.
- Specify Conditions: Clearly outline the conditions that need to be met. This may include passing a home inspection, obtaining financing, or other legal stipulations.
- Legal Review: Have a real estate attorney review the letter to ensure all legal bases are covered.
- Send the Letter: Send the letter to the seller or their agent. It is typically recommended to use certified mail for documentation purposes.
Risk Analysis
- Non-Acceptance: The seller may reject the conditions, leading to a breakdown in negotiations.
- Vagueness in Terms: Ambiguities in the conditions stated can lead to legal disputes or misunderstandings.
- Time Constraints: Setting conditions can delay the closing process. If not timed well, it might lead to missing out on other potential properties.
Common Mistakes & How to Avoid Them
- Lack of Specificity: Be explicit about each condition to avoid ambiguity. Use clear and precise language.
- Skipping Legal Review: Always have a real estate attorney review any legal documents to ensure compliance and validity.
- Poor Timing: Timely follow-ups on condition fulfillment can prevent delays in property acquisition.
Key Takeaways
Understanding and correctly drafting a letter with conditional acceptance of property is crucial in the U.S. real estate market. It protects the interests of the buyer by setting legally binding contingencies that must be satisfied for the transaction to proceed.
How to fill out Carta Con Aceptación Condicional De La Propiedad Que Especifica El Lugar De Cumplimiento?
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679. En los lugares distintos del en que se publique el Periódico Oficial, para que las leyes, reglamentos, etc.Proceder a la aceptación o repudiación de la herencia. Propio, se tendrá como tal fecha cierta la de la entrega de la carta de aceptación al propio.