Final answer:
Buyer Baker is presented with a counteroffer from Seller Sam, which he can either accept, counter, or decline, as part of the standard real estate negotiation process.
Step-by-step explanation:
When Buyer Baker presented an offer and Seller Sam made a counteroffer, Buyer Baker is no longer bound by his original offer. If Baker is still interested in the purchase, he must now respond to the counteroffer, which can involve accepting it, making another counteroffer, or walking away from the negotiation entirely. This is a common scenario in real estate transactions, where negotiation is an integral part of the process until both parties reach a mutually agreeable contract.
In this scenario, buyer Baker presented an offer to seller Sam to buy a 10-year-old home in a quiet neighborhood. However, seller Sam made a counteroffer to buyer Baker. In this situation, buyer Baker has the option to accept, decline, or make another counteroffer in response to seller Sam's counteroffer.