146,655
Seek legal advice. I think there's some confusion on the terminology. When a buyer has first right of refusal, there can only be one with that right.
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Nina Hollander, Broker
Charlotte, NC
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Tony and Suzanne Marri...
Scottsdale, AZ
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Lise Howe
Washington, DC
6,735,057
If they really want a property that bad then write an offer that will not be topped.
If I were the seller I would look more favorably on offers that were straight forward and clean rather than game players who are muddying my deal with vague changing offers like a first refusal.
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Bob Crane
Stevens Point, WI
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Fred Hafdelin
Mountain Lakes, NJ
613,494
I would write a simple "back-up" contract to the existing contract and match the terms. This would force the first contract to either perform or step aside.
If the first contract does not perform, your contract would then step into its place and you would be in first position. You would then treat that as any offer on a property.
I would not place my buyer into another first right of refusal, as that would be unnecessary and not be in the best interest of my buyer.
Eve
Ps: a first right of refusal is protection for the seller, not the buyer.
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
3,074,716
1. Discuss with yout Broker.
2. Discuss with an Attorney.
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Nina Hollander, Broker
Charlotte, NC
8,201,759
634,582
I agree with Bob Crane. Make your best offer and don't waste our time with games.
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Bob Crane
Stevens Point, WI
3,218,842
5,188,237
I don't understand how there could be another first right - there is already one in place. Another offer would only be a back-up.
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Nina Hollander, Broker
Charlotte, NC
3,764,341
I'm not sure I understand the scenario. Here tenants have the right of first refusal and may sell that right if they want to. So if an ordinary buyer had a right of first refusal, it sounds like another buyer could buy the right from the first buyer? I'll wait for someone who knows what they're talking about to answer this.
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Nina Hollander, Broker
Charlotte, NC
2,448,081
Just because you want to do something doesn't mean it can be done
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Nina Hollander, Broker
Charlotte, NC
42,670
I guess the two First rights of ref. would bid against each other?
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Tony and Suzanne Marri...
Scottsdale, AZ
2,714,158
Are you referring to a back-up contract, on a house that is already under contract, and already has a back-up contract on it?
If so, just write a back-up contract. In really hot markets, it is not unusual to have more than one back-up contract.
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Nina Hollander, Broker
Charlotte, NC
935,288
It would just be a back up to existing 1rst right holder. If the first potential buyer doesn't want it, then your buyer might be able to aquire the property.
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Nina Hollander, Broker
Charlotte, NC
2,343,557
I agree with what Bob Crane said. First right of refusal doesn't tie up a property, it just gives the principal first opportunity to buy the property for when it is for sale. Write an offer and make the first right of refusal step up or go away.
4,769,333
Who's on first?
Maybe it's the terminology that can vary by state/jurisdiction but how can there be two firsts?
5,527,349
Usually associated with a tenant of a property for sale or a condominium association on behalf of current owners!
Why would a seller allow a buyer to have control? Poor representation and no legal counsel!
3,417,356
It would put you in second position if the first buyer did not sell their home, the best way to get the home, write a contract without a first right to knock the other offer out.
5,356,926
I would get legal advice. In my state we could not write this kind of document. Actually sounds like a bit of an oxymoron to me... how can be "first" if someelse already is?
1,012,038
4,322,295
Ty Dwyer - best is to check with attorney for appropriate language for this. It does sound a bit more complicated....
1,266,393
Try this link on the descriptions; First Right of Refusal
Suggest you talk to a real estate lawyer.
3,986,473
1,157,847
Legal counsel may be able to provide appropriate wording for your jurisdiction.