OREF 003 & 004 – Seller and Buyer Counter Offers

In many real estate transactions, the first offer isn’t the final agreement. That’s where counteroffers come in. 

OREF 003 – Seller’s Counteroffer and OREF 004 – Buyer’s Counteroffer are used by buyers and sellers to negotiate the terms of a real estate sale agreement. When a party does not agree with the terms of an offer or prior counteroffer—including any attached addenda—but still believes an agreement may be possible, a counteroffer provides a way to propose revised terms. 

A Seller’s Counteroffer may also be used when a seller needs to correct information in the Seller Representations section of an offer, ensuring the buyer is aware of those corrections before becoming obligated to purchase. 

Beginning with the 2026 versions of the forms, there is also an important update to how deadlines work. The Offer Deadline in the Sale Agreement now applies to the original offer and all counteroffers that follow. That deadline remains in place unless it is changed in the Offer Deadline section of a counteroffer or on a separate addendum. 

In the following videos, we’ll walk through these forms and explain how they help structure negotiations and keep transactions moving toward agreement. 

Download the OREF 003 Seller Counteroffer Handout here!

Download the OREF 004 Buyer Counteroffer Handout here!

Do you have an idea or suggestion for a new form or edits to existing forms? We want to hear from you! Submit your ideas to our Forms Committee here.

Always check with your principal broker or legal counsel to ensure that you are following any policy requirements of your brokerage. All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.