Right of First Refusal in Florida Real Estate
A right of first refusal (ROFR) gives a designated party the opportunity to purchase property on the same terms as a third-party offer before the owner can sell to the third party. ROFRs are common in Florida HOAs, commercial leases, and family property arrangements.
How It Works
- Owner receives a bona fide third-party offer
- Owner notifies the ROFR holder of the offer terms
- Holder has a specified period (typically 15-30 days) to match
- If matched, the sale proceeds to the holder on the same terms
- If declined, the owner can sell to the third party
Common Applications
- HOA/Condo associations: Association right to approve or match sales
- Commercial leases: Tenant right to purchase leased premises
- Partnerships: Partner right to purchase departing partner's interest
- Family property: Family members' preferential purchase rights
Impact on Marketability
ROFRs can deter potential buyers, add transaction delays, and create title concerns. They should be clearly documented in recorded instruments and have defined exercise periods.
Related Terms
- Contract — The agreement creating the ROFR
- Encumbrance — ROFRs as title encumbrances
- Evidence of Title — Title searches reveal recorded ROFRs
Barnes Walker Real Estate
Barnes Walker's attorneys draft, enforce, and negotiate rights of first refusal in Florida real estate transactions. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC