Don_s said:
There's no need to be held in limbo. Offers and counter-offers can be held open for a set time or be open-ended. If the former, don't give the other party any more time than the time within which you think you should get a response. If the latter, you are free to impose an expiration time later, i.e. "if I don't hear from you by _______, my offer will terminate and I'll go on to the next buyer."
On another note to buyers. Please respond promptly to counter offers. I have had some counter offers completely ignored. Ignoring a counter offer prevents the seller from accepting other offers or making other counter offers until the original counter offer has expired.
There's no need to be held in limbo. Offers and counter-offers can be held open for a set time or be open-ended. If the former, don't give the other party any more time than the time within which you think you should get a response. If the latter, you are free to impose an expiration time later, i.e. "if I don't hear from you by _______, my offer will terminate and I'll go on to the next buyer."