What is a requirement for a counterproposal in a real estate transaction?

In a real estate transaction, a counterproposal is an important step in the negotiation process when the initial offer is not accepted as is. For a counterproposal to be considered valid and actionable, it must indeed be signed by both the seller and the buyer. This requirement ensures that both parties agree to the terms laid out in the counterproposal, making it a binding document that can lead to further negotiations or an eventual contract.

Having both parties' signatures on the counterproposal is crucial because it demonstrates mutual consent to the proposed changes from the initial offer. This agreement helps avoid misunderstandings and provides a clear record of what has been negotiated, thereby maintaining a transparent process in the transaction.

In contrast, the other options do not accurately reflect the standard requirements for a counterproposal. A verbal agreement may signify the intent to negotiate but does not constitute a formal counterproposal in writing, which is typically a necessity in real estate. The timeline for submission is not universally defined as 48 hours, as this can vary based on the specific terms set forth in the initial offer. Lastly, while buyers often make counterproposals, sellers can also present counteroffers; therefore, it is not limited only to one party.