How Long Should a Seller Give as Irrevocable on a Counter Offer?

Standard Scenario: Counter with 24 hr

Without special circumstances, 24 hr is the GTA default for a counter. Reason: it gives the buyer a full daylight window to consult agent, lawyer, family. Buyers don’t feel rushed; negotiation tone stays positive. Practice: counter sent at 4 pm → irrev at 4 pm next day. Both sides get a full business day to react.

Offer Day Multi-Bid: 6-12 hr

When the listing specified an offer day (e.g., Tuesday 7 pm) and seller counters one of multiple bidders, 6-12 hr is standard. The buyer mentally expects ‘must decide tonight’. Risk: too short (2-3 hr) means buyer’s lawyer/family can’t be reached; too long (24 hr) leaks backup leverage. Recommended: 6 hr to the chosen buyer + tell backup buyer ‘an offer is out, you stand by for 6 hr’.

Buyer in Different Time Zone: 48 hr

If the buyer is overseas (China, Hong Kong, Europe), 24 hr isn’t enough — only 12 waking-hour overlap. 48 hr is reasonable. Tip: have your agent ask the buyer’s agent ‘what time zone is the buyer in?’ before deciding. If you have another deal in motion, give 48 hr but require deposit wired to trust within 24 hr.

Backup Offer Scenario: 12 hr

If you already have a deal in conditional period and a second buyer submits a backup, you counter the backup. 12 hr is enough — backup buyer’s mental frame is ‘I’m in queue’, they don’t expect long negotiation. Key: write into the backup schedule ‘this offer activates only if first deal collapses’ to avoid double-binding.

Rejecting Lowball but Keeping Door Open: 6 hr

If a buyer’s offer is 8%+ below your number and you don’t want to accept, but also don’t want to outright reject (keep door open), counter near fair value with 6 hr short irrev. Strategic message: ‘I’m in demand, I don’t need you’ — buyer either decides fast or walks. Avoid: 24 hr counter on a lowball makes the buyer think there’s room to negotiate, wasting 3 days.

Buyer asks for 72 hr — what do I do?

Ask why. Reasonable (overseas, legal review) = grant. Vague (‘let me think’) = red flag — buyer may be shopping. Counter-tactic: keep 24 hr but have your agent communicate ‘we have another offer waiting; 24 hr is the floor’. If buyer keeps stalling, they’re often not truly motivated.

Buyer asks to extend before irrev expires — grant?

Depends on your leverage. Strong backup = decline (let it expire and renegotiate or accept backup). Buyer is your only good offer = grant 12 hr (NOT another 24 — avoids ‘I can extend anytime’ impression).

Irrev expires but buyer ‘forgot’ to sign — does it auto-expire?

Technically yes. Offer is void; seller can accept other offers. In practice: have your agent email buyer agent 1 hr before expiry confirming ‘irrev expiring’. Otherwise the buyer might later claim ‘I thought we were still negotiating’ — could trigger a RECO complaint.

Can the seller withdraw their own counter offer?

Yes, before the buyer signs. Once buyer signs, the counter is binding. Process: send written withdrawal to buyer agent immediately and require receipt confirmation. Best done via lawyer to avoid later disputes.

How does irrev count over weekends or holidays?

Calendar hours don’t pause. 4 pm Friday + 24 hr = 4 pm Saturday. Usually disadvantages buyer (lawyer offices closed). Seller tactic: if countering Friday afternoon, give 36-48 hr to span weekend — looks generous, increases acceptance odds. Unless you have weekend backup competing, then 24 hr maintains pressure.