Second Rights of Refusal,Iowa

I have already signed First Rights of Refusal five years ago,for a prospective buyer, Now I find out that my commercial property is worth three times more than first offer, and a friend wants to buy it. Will my friend need a Second Rights of Refusal to purchas my property??

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by wantabe:
I have already signed First Rights of Refusal five years ago,for a prospective buyer, Now I find out that my commercial property is worth three times more than first offer, and a friend wants to buy it. Will my friend need a Second Rights of Refusal to purchas my property?? <HR></BLOCKQUOTE>

Is there a time deadline on the first, does it go to infinity or only when another offer comes in? There is no need for a second right since if the first person does not exercise the right, you are free to sell the property to anyone else.