Right of First Offer (ROFO) for Florida Property
FL ROFO: owner must offer property to holder before third parties. Holder negotiates first; unlike ROFR (match existing offer). Process: owner notifies intent to sell, holder negotiates within specified period, if no deal: owner offers to third parties. ROFO: less chilling effect, more flexibility. ROFR: matches exact terms. Both: written, recorded, clear notice/period terms.
How It Works
- Owner notifies ROFO holder first
- Holder negotiates within period
- No deal: owner goes to market
ROFO vs. ROFR
- ROFO: negotiate first, flexible
- ROFR: match existing offer, exact
- ROFO: less chilling effect
When to Use
- ROFO: commercial, JV, family
- ROFR: HOA, shareholders, partners
- Both: written, recorded
Related Terms
- ROFR — Matching right
Barnes Walker Real Estate
Barnes Walker’s attorneys draft ROFO provisions in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC