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Real Estate Glossary

First Refusal Right or Right Of First Refusal (Purchase)

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Written by Luis Escobar

This is a clause that grants the first chance to purchase a property at the same value and on the same conditions and terms as those contained in a different third party offer that the property owner has stated that they are wanting to accept, to the tenant.

This is a clause that grants the first chance to purchase a property at the same value and on the same conditions and terms as those contained in a different third party offer that the property owner has stated that they are wanting to accept, to the tenant.

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Luis Escobar

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