When the seller or buyer responds to a bid. If you decide to offer $ 300,000 for a home listed at $350,000, the seller might counter your offer and propose that you purchase the home for $340,000. That new proposal, and any subsequent offer, is called a counter-offer.
A response from a seller to a buyer's offer to purchase property, where any part of the original offer may be changed, such as price or dates. Can also refer to any subsequent changes in the offer by buyer or seller.