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The Counter Offer Addendum in Minnesota is a vital document used during real estate transactions. It allows buyers and sellers to negotiate terms after an initial purchase agreement has been made. This form is approved by the Minnesota Association of REALTORS® and provides a structured way to present counteroffers. Key sections of the addendum include the date, the counteroffer number, and the specific changes being proposed. Buyers and sellers can outline adjustments to the sale price, earnest money, financing details, and closing costs. It also specifies important dates, such as the closing date and possession date. By using this form, both parties can clarify their intentions and ensure that all terms are documented properly. This addendum serves as a formal rejection of the original purchase agreement while presenting new terms for consideration. It is crucial for both parties to understand that this document is legally binding, making it important to review all details carefully before signing.

Form Example

COUNTEROFFER฀ADDENDUM

This฀form฀approved฀by฀the฀Minnesota฀Association฀of฀REALTORS®,฀ which฀disclaims฀any฀liability฀arising฀out฀of฀use฀or฀misuse฀of฀this฀form.

©฀2007฀Minnesota฀Association฀of฀REALTORS®,฀Edina,฀MN

 

1.฀

Date฀

 

 

 

 

 

 

 

2.฀

Page฀

 

 

 

 

 

 

3.฀

Addendum฀to฀Purchase฀Agreement,฀Counteroffer฀Number฀

 

 

 

 

 

 

฀

4.฀

by฀฀ ฀Buyer฀ ฀Seller฀to฀the฀Purchase฀Agreement,฀dated฀

 

 

 

฀,฀20฀

 

฀฀ ,

฀-----------(Check฀one.)-----------

5.฀

and฀signed฀by฀Buyer,฀

 

 

฀,

6.฀

pertaining฀to฀the฀purchase฀and฀sale฀of฀the฀property฀located฀at฀

 

 

 

7.฀

 

 

 

 

฀.

8.฀ [CAUTION:฀This฀ Counteroffer฀ Addendum฀ does฀ not฀ include฀ the฀ terms฀ or฀ conditions฀ in฀ any฀ other฀

9.฀

counteroffer.]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10.฀

The฀Purchase฀Agreement฀is฀rejected฀and฀the฀following฀Counteroffer฀is฀hereby฀made.฀All฀terms฀and฀conditions฀remain฀

11.฀

the฀same,฀as฀stated฀in฀the฀Purchase฀Agreement,฀except฀the฀following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12.฀

(Select฀appropriate฀changes฀from฀original฀offer.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13.฀

 

฀ Sale฀price฀shall฀be฀$฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

฀.

 

 

 

 

 

 

 

 

14.฀

 

฀ Earnest฀money฀shall฀be฀a฀total฀of฀$฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

฀.

 

 

 

 

15.฀

 

฀ Cash฀of฀at฀least฀

 

 

 

 

฀percent฀(%)฀of฀the฀sale฀price,฀which฀includes฀the฀earnest฀money;฀PLUS;

 

 

 

 

16.฀

 

฀ Financing,฀the฀total฀amount฀secured฀against฀the฀property฀to฀fund฀the฀purchase,฀not฀to฀exceed฀

 

 

 

 

฀

17.฀

฀

percent฀(%)฀of฀the฀sale฀price.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18.฀

 

฀ Closing฀date฀shall฀be฀

 

 

 

 

 

 

 

 

฀,฀20฀

 

 

 

 

 

 

 

฀.

 

 

 

 

 

 

 

 

19.฀

 

฀ Seller฀agrees฀to฀complete฀all฀FHA/Lender฀required฀repairs,฀not฀to฀exceed฀$฀

 

 

 

 

 

 

 

฀.

20.฀

 

฀ Seller฀shall฀pay฀Buyer’s฀closing฀costs,฀prepaids,฀insurance฀and฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21.฀

฀

not฀to฀exceed฀$฀

 

 

 

 

 

 

฀.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22.฀

 

฀ Possession฀shall฀be฀on฀

 

 

 

 

 

 

 

 

฀,฀20฀

 

 

 

 

 

 

 

 

฀.

 

 

 

 

23.฀

 

฀ Other:฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

24.฀

฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

25.฀

฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26.฀

฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27.฀

฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

28.฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

฀

(Seller’s฀Signature)฀

 

 

 

(Date)฀

 

(Buyer’s฀Signature)฀

 

 

 

 

(Date)

29.฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

฀

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

฀

(Seller’s฀Signature)฀

 

 

 

(Date)฀

 

(Buyer’s฀Signature)฀

 

 

 

 

(Date)

30.฀

This฀Counteroffer฀Addendum฀is฀

฀REJECTED฀

฀COUNTERED฀฀฀฀฀฀

 

 

 

฀

 

 

 

฀

 

 

 

 

฀

฀

 

 

 

 

---------------------(Check฀one.)---------------------฀

 

 

 

 

 

 

 

(initial)฀

(initial)

 

 

 

 

31.฀

ATTACH฀ONLY฀THE฀FINAL฀COUNTEROFFER฀ADDENDUM฀TO฀THE฀PURCHASE฀AGREEMENT.

32.฀

THIS฀IS฀A฀LEGALLY฀BINDING฀CONTRACT฀BETWEEN฀BUYER(S)฀AND฀SELLER(S).

33.฀

IF฀YOU฀DESIRE฀LEGAL฀OR฀TAX฀ADVICE,฀CONSULT฀AN฀APPROPRIATE฀PROFESSIONAL.

MN:CO฀(8/07)

➤ Counter Offer Addendum Minnesota File

Form Specifications

Fact Name Details
Form Purpose This form is used to create a counteroffer to a purchase agreement in Minnesota.
Governing Body The Minnesota Association of REALTORS® approves this form.
Legal Binding This document serves as a legally binding contract between the buyer(s) and seller(s).
Rejection of Original Agreement The counteroffer explicitly rejects the original purchase agreement.
Modification of Terms All terms and conditions remain the same unless specifically modified in the counteroffer.
Earnest Money Requirement The form specifies the amount of earnest money required as part of the counteroffer.
Closing Date Specification The counteroffer allows parties to specify a closing date, which is essential for transaction planning.
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