What must the owner do in order to accept a second offer after responding with a counteroffer?

To accept a second offer after having responded with a counteroffer, the owner must withdraw the counteroffer before it can be accepted. When a counteroffer is made, it essentially replaces the original offer and signals that the owner is no longer willing to accept the first offer under its original terms.

By withdrawing the counteroffer, the owner can return to a state where they are free to accept any new offers, including a second one. This action allows the owner to legally transition from one potential buyer to another without being bound by the terms of the initial counteroffer.

This process is essential in real estate transactions, as it clarifies the intentions of the seller and prevents any potential disputes regarding multiple offers. The other options do not effectively address the requirement to withdraw the counteroffer in order to move forward with accepting a new offer.