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Old 05-16-2002, 08:23 AM
efole
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Question

1st right of refusal


Florida.....I recently gave a full price offer to buy a house to a 'by owner' and gave $1,000 good faith deposit. After she accepted the offer and the check, she was not willing to a 90 day closing because I have to sell my house first.

Someone told her about 1st right to rufusal that she would give that to me, and she would look for someone else to buy the house that could close sooner. From what I believe , 1st right to refusal is if you want to buy a property, and the seller doesn't want to sell at that time, you ask for 1st right to refusal, then when they are ready to sell, they offer it to you first.
Is this right?

No contract has been signed yet but the market area is 'HOT' and it will sell fast. If we can't come to an agreement about the closing date, does she keep the $1000?

Efole
  #2  
Old 05-16-2002, 11:45 AM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781

Re: 1st right of refusal


Quote:
Originally posted by efole
Florida.....I recently gave a full price offer to buy a house to a 'by owner' and gave $1,000 good faith deposit. After she accepted the offer and the check, she was not willing to a 90 day closing because I have to sell my house first.

Someone told her about 1st right to rufusal that she would give that to me, and she would look for someone else to buy the house that could close sooner. From what I believe , 1st right to refusal is if you want to buy a property, and the seller doesn't want to sell at that time, you ask for 1st right to refusal, then when they are ready to sell, they offer it to you first.
Is this right?

No contract has been signed yet but the market area is 'HOT' and it will sell fast. If we can't come to an agreement about the closing date, does she keep the $1000?

Efole
**A: please hire yourself a real estate attorney.
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