Contracts
In Colorado, a 'right of first refusal' in a real estate contract means:
AThe seller must accept the first offer received
BA designated party has the right to match any offer the seller receives before accepting it✓ Correct
CThe buyer can refuse any offer made to them
DThe broker has priority to purchase the property before listing
Explanation
A right of first refusal gives a designated party (tenant or neighboring owner) the contractual right to purchase the property by matching any offer the owner receives before the owner can accept a third-party offer.
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