Contracts
In Montana, a buyer's right of first refusal gives the buyer the right to:
APurchase the property before the seller can list it on the MLS
BMatch any bona fide third-party offer before the seller can accept it from another buyer✓ Correct
CSet the listing price for the property
DPurchase the property at a predetermined price at any time
Explanation
A right of first refusal (ROFR) gives the holder the right to match any legitimate third-party offer before the owner can accept it. Unlike an option, the holder cannot force a sale—they can only exercise their right when an outside offer triggers the ROFR.
Related Montana Contracts Questions
- A 'right of first refusal' gives the holder the right to:
- A purchase offer states that the seller must accept or reject within 48 hours. The seller does not respond within that period. The offer:
- If a buyer defaults under a Montana purchase contract and the seller retains the earnest money, this is known as:
- A Montana seller's counteroffer that changes the price from $310,000 to $295,000 must be:
- An option contract in real estate gives the optionee the:
- Which clause in a listing agreement allows a broker to earn a commission if the property is sold to a buyer introduced during the listing period, even after the listing expires?
- Under a listing contract, a broker earns a commission when they produce a buyer who is:
- A voidable contract is one that:
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