Right of First Refusal

Elements of lease, cooperative and condominium agreements that offer the holder the right to purchase or possess the subject property. With leases, the right of first refusal would allow the tenant to get the first chance to buy the property or lease additional space if the landlord seeks to sell or lease the property. With condominiums and cooperatives, the association or co-op may have the right to buy the property before the seller officially puts it on the market. For more information, see the "All About Leases" or "Condominiums" articles in the "Real Estate In-Depth" section.

Was this article helpful?

0 0
Real Estate 101

Real Estate 101

This book makes it easy to not only buy a home, but figure out everything that you need to do, even get a loan. In simple and easy to understand language, it talks about where you should buy a home, what to look for in a home, how to find a home, how to get an agent, how to get a mortgage and more. This is a step by step process that you, a new home buyer, can use to purchase a home.

Get My Free Ebook


Post a comment