General information only — not legal, tax, financial, or real-estate advice. Verify with a licensed BC professional before acting.
A counter offer is a response to an existing offer that proposes changed terms — such as price, completion date, possession date, deposit amount, included items, or subject conditions. Under general BC contract law principles, a counter offer legally rejects the original offer and itself becomes a new offer. The receiving party may then accept, reject, or respond with a further counter offer. This exchange can continue through multiple rounds until both parties sign the same version of the document, at which point a binding contract is formed. Either party may walk away at any point before that mutual acceptance occurs. Buyers and sellers should confirm how counter offers must be documented and communicated in their specific transaction with a BC lawyer, notary, or licensed real estate professional.
A counter offer is a response to an existing offer that changes one or more terms such as price, completion date, deposit, or subject conditions. Under BC contract law, issuing a counter offer rejects the original offer and creates a new offer that the other party may accept, reject, or counter. Either party can withdraw during the back-and-forth negotiation until both sign an identical version. Verify the specific legal effect and timing rules with a BC lawyer or notary before acting.
Yes. Under BC contract law, a counter offer operates as a rejection of the original offer and proposes new terms. Once a counter offer is made, the original offer is extinguished and cannot be accepted unless the original offeror reintroduces identical terms in a subsequent counter offer. The parties continue this process until one version is accepted by both sides or negotiations end. Verify the contractual effects with a BC lawyer or notary before acting.
Yes, a counter offer can be withdrawn (revoked) at any time before it is accepted by the other party. The revocation must be communicated to the other party before acceptance occurs. Once a counter offer is accepted in writing by both parties, a binding contract is formed and neither party can withdraw. Verify timing, delivery, and acceptance rules with a BC lawyer or notary before acting.
Common changes include purchase price, completion date, possession date, deposit amount and timing, items included or excluded (chattels, fixtures), and subject conditions (financing, inspection, strata document review). Any term of the original offer may be altered or removed in a counter offer. Under BC's Real Estate Services Act (RESA), SBC 2004, c. 42, and BCFSA Rules, licensees must ensure all terms are clearly documented in writing. Verify the legal sufficiency of any counter offer with a BC lawyer or notary before signing.
There is no legal limit to the number of counter offers parties may exchange in BC. Negotiations can continue until one party accepts the other's latest counter offer, or either party withdraws from negotiations entirely. Each successive counter offer replaces the previous one. Verify timing, communication, and acceptance requirements with a BC lawyer or notary before acting.
Yes. Under BC contract law and the Real Estate Services Act (RESA), SBC 2004, c. 42, contracts for the purchase and sale of land must be in writing to be enforceable. A counter offer that changes terms of a real estate purchase must be documented in writing, signed by the party making it, and delivered to the other party. Verbal counter offers are not enforceable for real estate transactions. Verify documentation and delivery requirements with a BC lawyer or notary before acting.
If the parties sign different versions, no binding contract exists because there is no mutual agreement (no "meeting of the minds"). A valid contract requires both parties to sign an identical version of the offer or final counter offer. If confusion arises, verify which version controls and whether a binding contract was formed by consulting a BC lawyer or notary immediately.
Under the Real Estate Services Act (RESA), SBC 2004, c. 42, and BCFSA Rules, licensed real estate professionals may fill in standard form contracts (such as those published by the British Columbia Real Estate Association) and explain standard clauses, but they must not provide legal advice or draft complex or unusual terms. Parties should consult a BC lawyer or notary for legal advice on contract terms, especially non-standard clauses or significant changes. Verify the scope of your licensee's role and obtain independent legal advice before signing.
A counter offer typically includes an irrevocable period or acceptance deadline set by the party making it. If no deadline is stated, the counter offer remains open for a reasonable time under BC contract law, but the offering party may revoke it at any time before acceptance. Once the deadline passes without acceptance, the counter offer lapses. Verify irrevocable periods, time zones, and delivery rules with a BC lawyer or notary before acting.
A counter offer may change the deposit amount, the timing of deposit payment, or the brokerage or lawyer holding the deposit in trust. The deposit demonstrates the buyer's commitment and forms part of the purchase price if the sale completes. Under the Real Estate Services Act (RESA), SBC 2004, c. 42, deposits must be held in trust by a licensed brokerage or a lawyer/notary. Verify deposit terms, trust account rules, and release conditions with a BC lawyer or notary before acting.
Verify the specific statutory language, thresholds, deadlines and current guidance directly with the governing authority: