Rights of first refusal appear frequently in business agreements, yet it is generally advisable to avoid them entirely.
Reduced Marketability: Prospective buyers often decline to invest effort when someone else can simply match their price.
Closing Delays: If buyer and seller modify deal terms before closing, they must present revised terms to the rights holder again.
Litigation Risks: Disputes frequently emerge regarding partial property offers, property trades, or whether the right was waived.
Conclusion
Rights of first refusal represent a serious detriment to the value and marketability of property, making avoidance advisable in most circumstances.