Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
While it is easy to explain what a counter offer is, defining it is equally as tough. However, there have been quite a few attempts of defining it. Here mentioned are some of the more common ones.
i. A real estate counter offer is basically an offer made in response to the first offer by the seller. This mainly happens when the buyer is not content with the price quoted for a particular property. For example, if the buyer was thinks that the property is too highly priced and wants to pay a lesser amount, they can submit a counter offer. On the other hand, if the seller is not happy with the counter offer, they can also counter that offer, until both parties have reached an agreement.
ii. In real estate, a counter offer can be easily defined as prices set to reduce the price gap between the seller’s price and the buyer’s price. This occurs when either the buyer is not happy with the asking price and they counter it with a more acceptable rate, or when the seller is not happy with the buyer’s counter and provides a counter until both accept the price.
1. With counter offers, both the buyer and seller can get a fairer deal on the property. This way neither parties think that they have made a loss on the deal.
2. Counter offers also help understand the true valuation of the property.
