Contracts
What is a right of first refusal in real estate?
AA seller's right to reject any offer
BA holder's right to match any offer before the property is sold to another✓ Correct
CA buyer's right to inspect before purchasing
DA lender's right to approve a sale
Explanation
A right of first refusal gives the holder the opportunity to match any offer on a property before it can be sold to another party, often found in leases and partnership agreements.
Related Ohio Contracts Questions
- Which remedy allows a party to an Ohio real estate contract to demand the other party fulfill the exact terms of the agreement?
- Under Ohio contract law, 'fraudulent misrepresentation' requires all of the following EXCEPT:
- What is an interpleader action in Ohio real estate?
- An Ohio purchase contract contains both a home inspection contingency and a financing contingency. The buyer waives the inspection but the loan is denied. The buyer is entitled to:
- The parol evidence rule in Ohio contract law generally means:
- An Ohio seller receives an offer with a financing contingency. This contingency means:
- In Ohio, which of the following is true about a 'backup offer'?
- In Ohio, the term 'closing date' in a purchase contract is typically defined as:
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →