Contracts
In South Carolina, a 'right of first refusal' in a real estate contract gives the holder:
AThe right to purchase before the property is offered to others✓ Correct
BThe right to refuse any repairs after inspection
CThe right to extend the due diligence period
DThe right to cancel the contract without penalty
Explanation
A right of first refusal gives the holder the right to match any bona fide offer the owner receives before selling to a third party. It is commonly found in leases, partnership agreements, and estate planning.
Related South Carolina Contracts Questions
- Under a South Carolina 'as-is' sale provision, the seller:
- In South Carolina, 'novation' in a real estate transaction occurs when:
- A South Carolina buyer is under contract to purchase a home but wants to back out after the inspection period has expired. The buyer:
- Under South Carolina law, a contract for the sale of real property must include a legal description of the property to be:
- Which of the following is an essential element for a valid real estate contract in South Carolina?
- A South Carolina buyer discovers significant undisclosed defects after closing. Their legal remedy may include:
- In South Carolina, the 'merger doctrine' states that:
- A South Carolina listing agreement must include which of the following to be enforceable?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →