Property Ownership
The right of first refusal in a real estate context means:
AA seller may reject any offer within 24 hours
BA party has the right to match any offer the owner receives before the owner can accept from another buyer✓ Correct
CA buyer may refuse to close if they change their mind
DA lender can refuse to issue a loan for any reason
Explanation
A right of first refusal gives a designated party the right to match any bona fide offer the property owner receives. If the property owner receives an offer they want to accept, they must first offer the property to the holder of the right of first refusal on the same terms.
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