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. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or there is no contract.
Title: Michigan Letter of Conditional Acceptance — Counter Offer to Property Owner from Prospective Tenant Introduction: A Michigan Letter of Conditional Acceptance — Counter Offer to a Property Owner from a Prospective Tenant is a legal document used to outline proposed changes or conditions to a lease agreement. It serves as a formal response from the tenant to the property owner, stating their revised terms and conditions for renting the property. This comprehensive letter aims to negotiate favorable terms, address concerns, or propose modifications while expressing an interest in entering into a lease agreement. Key Content: 1. Header: Start the document by clearly indicating it as a "Michigan Letter of Conditional Acceptance — Counter Offer to Property Owner from Prospective Tenant." 2. Sender and Recipient Information: Include the full name, address, and contact details of both the tenant and property owner as the sender and recipient respectively. 3. Date: Specify the date on which the counter offer is being made. 4. Subject and Purpose: Clearly state the subject, indicating the document as a counter offer to the property owner. Explain the purpose, which is to propose modified terms to the lease agreement. 5. Property Description: Accurately describe the property's location, address, and provide any relevant information that uniquely identifies the premises. 6. Proposed Changes: Outline the specific changes or conditions the tenant wishes to make to the lease agreement, such as rent amount, lease duration, security deposit, pet policy, utilities, maintenance responsibilities, or any other variable-specific terms. 7. Justification: Offer a detailed explanation for each proposed change, highlighting the reasons behind them while focusing on potential benefits for both parties. 8. Terms of Agreement: Clearly state the terms and conditions the tenant is willing to accept if the counter offer is agreed upon by the owner. Include the revised rent amount, payment schedule, lease term, and any other relevant agreements. 9. Deadline: Set a reasonable deadline by which the property owner should respond to the counter offer for continued negotiation. 10. Contact Information: Reiterate the tenant's contact information and express willingness to discuss the counter offer further if necessary. 11. Conclusion: Express enthusiasm for a prompt and positive response, demonstrating an interest in moving forward with the lease agreement. Types of Michigan Letter of Conditional Acceptance — Counter Offer to Property Owner from Prospective Tenant: 1. Counter Offer for Rent Reduction: A letter proposing a lower rent amount than initially stated but justifying the reduction based on market comparisons or conditions of the property. 2. Counter Offer for Lease Amendments: A letter proposing modifications to certain aspects of the lease, such as lease duration, specific clauses, maintenance responsibilities, or pet policies, without altering the rent amount. 3. Counter Offer for Additional Inclusions: A letter requesting the property owner to include additional amenities or services in the lease agreement, such as parking spaces, access to communal facilities, or utilities packaged within the rent. 4. Counter Offer for Security Deposit Adjustment: A letter suggesting changes to the security deposit amount and conditions, in adherence to legal requirements or personal circumstances. Remember to consult with an attorney or legal professional to ensure accuracy, relevance, and compliance with local regulations when drafting a Michigan Letter of Conditional Acceptance — Counter Offer to a Property Owner from a Prospective Tenant.
