Withdrawing a CounterProposal
When an Offer comes in, there is always a date and time in which the Offer must be accepted, rejected or a Counter Proposal submitted. During this time, the person making the Offer is considered the Offeror. The Buyer is considered the Offeree. The Buyer can withdraw an offer in writing anytime before hearing back from the Seller.
In the event, a Counter proposal is submitted, the roles change. The Buyer now becomes the Offeror and the Seller becomes the Offeree. The Seller can also withdraw a Counter proposal in writing at anytime if they have not heard or received anything back from the Buyer.
If the Counter Proposal goes past the acceptance date and time, then the Counter Proposal is considered void at that time and neither party is bound by the Counter Proposal that was submitted.