Right of First Refusal

[bwoods11]

First right of refusal can be a headache. I’ve dealt with them, they can be a negative or a positive… I would avoid them in most cases.

 

[Bszweda]

I think friendly reminders are the way to go. I personally would offer a deal asking for a 3rd party appraiser then add 10% on that.

 

[Turkish]

That makes sense. I guess it’s just how bad do you want it. When I purchased my property I got a rofr on a piece the owner wanted to keep for the time being. Well a few years later he offered to sell that me that piece and I couldn’t refuse it fast enough. He priced it so high it was ridiculous even though the contract stated “fair market value”. I just can’t see paying money for a contract like that then them asking a crazy high price for it giving you no choice but to turn it down. The you are out of that money.

Did it sell to someone else?

 

[roosterstraw]

Did it sell to someone else?

No, I made him an offer and he refused it. He came back with a counter offer about a month later and I purchased it. He had planned on listing it but didn’t want to wait so decided to counter my offer.