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Post by Bwoods11 on Nov 26, 2021 13:42:09 GMT -6
Hypothetical: you own land that you know your neighbor would like to purchase one day if given the opportunity. What price would you charge them in order for them to receive a right of first refusal on your property, if you even would? Honest opinions please The more scenarios that have come up in the past few years… I would personally pass on a giving anyone a first right of refusal . Unless I had a long term plan and you know he’s going to be the buyer? |
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Post by Foggy on Nov 26, 2021 15:03:46 GMT -6
Hypothetical: you own land that you know your neighbor would like to purchase one day if given the opportunity. What price would you charge them in order for them to receive a right of first refusal on your property, if you even would? Honest opinions please The more scenarios that have come up in the past few years… I would personally pass on a giving anyone a first right of refusal . Unless I had a long term plan and you know he’s going to be the buyer? About the only place I see a value in the FROR is when you own a property jointly with someone else (likely a relative or a biz partner) then I can see where that person would like the FROR so they dont get bamboozled out of a property. |
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Post by wklman on Nov 26, 2021 17:25:14 GMT -6
I wouldn't do it personally. I told my Amish neighbor at my old place I'd give him the first crack at buying mine if I sold. When I decided to sell and gave him a price, he tried low balling me by 20 grand. I declined and said I was sticking to my price and putting it up for sale. The next day, I added 15 grand to my asking price and sold it on Facebook to the first guy that came and looked at it.
A week later, my Amish neighbor said he'd buy it for my original asking price. I told him, "Sorry, it was gone." He wasn't happy, but he did it to himself. I won't do that again.
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