Understanding the Right of First Refusal in Miami Beach Condos: A Must-Know for Buyers and Sellers!

What is the Right of First Refusal? It's when a condo building has the power to step in and match an offer on a unit, taking over the contract themselves. I saw this firsthand with a client at the Shelbourne on Miami Beach. The building didn't want a unit selling too cheaply, as it could hurt their property values and comps, so they exercised their right to keep it in their inventory. This often happens in distressed sales where sellers lower prices, and buildings will step in to protect their investment. I've actually had this happen to me three times, twice in the same building! It's a crucial detail buyers and sellers need to understand. #RightOfFirstRefusal #RealEstateExplained #PanFloridaRealty #EliRistine #CondoMarket #MiamiBeachRealEstate

Видео Understanding the Right of First Refusal in Miami Beach Condos: A Must-Know for Buyers and Sellers! канала Pan Florida Realty