| This usually pertains to two different issues. First, to a property that is part of a condo or town home association. When a homeowner is going to sell the home, the by-laws may indicate the association has the right to purchase the property before anyone else. Once the association gives up the right to purchase the property, the homeowner is able to sell to the public. The second has to do with contingencies. If a buyer puts in a contingent offer that is accepted and another offer comes in the homeowner would have to give notice to the first buyer. In this case the buyer has the first option whether to remove the contingency or give up the home. The first buyer, in this case, has the right to first refusal. |
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