Right of First Refusal

A Right of First Refusal or RoFR is used to provide a third-party (typically a neighbor or a former seller) with the right to purchase a property for the same price as may be offered by another third-party, so long as that price is acceptable to the owner. This allows an owner the right to freely market the property and receive an acceptable price, but provides another person with a particular interest in the property a way to protect that interest from new outside ownership.

Price: $95