JPC's Real Estate Glossary - NOV 18 2015 Word of the Day
#JPCREALTY #WOTD #RIGHTOFFIRSTREFUSAL
RIGHT OF FIRST REFUSAL:
A PROVISION IN AN AGREEMENT THAT REQUIRES THE OWNER OF THE PROPERTY TO GIVE ONE PARTY AN OPPORTUNITY TO PURCHASE OR LEASE A PROPERTY BEFORE IT IS OFFERED FOR SALE OR LEASE TO OTHERS.
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