![]() Addenda should only be used to change the “terms” an an Agreement.It should always be “subject to” a SMCO or SCO. Do not mark “Subject to” on RPA page 10 with an Addendum.Buyer may “counter” the Seller’s SMCO or SCO with a BCO.Seller may “counter” with a SCO if only “countering” only one offer.Seller may “counter” with a SMCO if “countering” more than one offer.There is a proper way to “counter” the terms in an Offer to Purchase.Seller then signs SCO #2 and send back the BCO #1 and SCO #2, etc.ĭo not use an Addendum to “counter” an Offer.If Seller does not agree to BCO#1, Seller sign BCO #1 “subject to” SCO #2.If Seller accepts BCO #1, Seller signs and returns for Selling Agent confirmation.Buyer signs BCO #1 and sends both the SCO #1 and BCO #1 to Listing Agent.If Buyer accepts the SCO #1 as written, Buyer signs and SCO #1 is sent back to the Listing Agent to initial, time & date confirming acceptance.This indicates there is only one Buyer involved. If Buyer accepts the SMCO #1 and signs & dates it, then it goes back to the Seller to sign in paragraph 6 accepting only this Buyer and then it goes back to the Buyer to initial, time & date confirming acceptance.It is often good to counter back to the Seller with a BCO #1 increasing the offer price or some other term that might encourage the Seller to accept your offer over another Buyer.Buyer receiving the SMCO #1 should understand that the terms of each “multiple” counter offer may be different than the one they receive.Each SMCO, even though being presented to different Buyers, should be labeled as SCMO #1.This indicates that more than one Buyer is still in negotiation. ![]()
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