Tag: right-of-first-refusal
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A ” right of first refusal ” threatens a million-dollar sale
Reader Question: I am in negotiations to sell off a portion of my property. The buyer is simultaneously asking for a right of first refusal on a contiguous parcel. The wording in the right of first refusal clause the agent drafted in the offer is one short sentence and leaves many unanswered questions. My attorney…
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Right-of-first-refusal complicates negotiations
Reader Question: My wife and I own a large tract of land. We want to sell off a one hundred acre parcel. We have a written offer-to-purchase that has been in negotiation for over ninety days. The buyer wants a “right-of-first-refusal (ROFR) should we sell off more land in the future. The offer contains…