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What Is a Right of First Refusal in Real Estate? Getting First Dibs on Making an Offer
By reinvestor on July 11, 2017
BernardaSv/iStock; realtor.com
Imagine being able to make an offer on a house before any other interested home shoppers can even have a look-see. If you have a right of first refusal negotiated into a lease or other housing agreement, you’re first in line to get the option to buy. So how does it work? Let’s take a closer look at right-of-first-refusal agreements and what they mean for buyers and sellers.
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