Property Ownership
A Virginia condominium unit owner has a right of first refusal in their condo declaration. Another unit is for sale. The owner may:
ABlock the sale entirely if they choose not to buy
BMatch any bona fide offer within the specified period or waive the right✓ Correct
CSet the sale price for the unit
DOnly purchase the unit at the original purchase price
Explanation
A right of first refusal allows the holder to match a bona fide offer from a third party within the period specified in the declaration. If not exercised, the owner waives the right and the seller may proceed with the third party.
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