Agent representing seller has an offer and the seller counter offers. A second offer comes in from another buyer, better than the counteroffer to the first buyer. The first buyer still hasn’t responded to the original counter offer.

Does the counteroffer have to be withdrawn prior to accepting the second offer? What is the procedure? Can seller’s agent verbally withdraw?)

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My answers are general answers to general questions regarding real estate practices in New Jersey, I am not a lawyer. I suggest that you consult an attorney when appropriate.