I am currently working on negotiating an offer on a large acreage that has a "First Right of Refusal" with a Cell phone company. There is a tower on the property. In what order should that offer be presented? To the current owner first, then to the cell company? Cell company first then, property owner? or simultaneously?
The Hotline lawyer has no knowledge of the terms of the first right and thus, cannot answer this question. Typically, the property owner would view and accept the offer before it would go to the holder of a first right. After all, if the owner is not interested in accepting the offer, there is probably no reason for it to be submitted to the holder of the first right. But, the Hotline lawyer cannot answer this question. Broker should advise property owner to seek legal counsel. First right agreements are not boiler plate. Each is unique. Broker cannot draw generalities. Rather, seller's lawyer needs to give seller specific legal counsel following the lawyers review of the actual documents and facts at issue.
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The Legal Hotline Lawyer does not represent Washington REALTORS® or its members. The advice contained herein does not constitute legal counsel. Please consult with your managing broker for best practices.
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