Right of First Offer and Right of First Refusal

A landowner may not be ready to sell their property but may be willing—if and when they are ready to sell—to provide an organization with the opportunity to purchase the property before it is sold to another. The opportunity more specifically may be for the organization to accept or make an offer on the property before it is placed on the market, to negotiate with the owner before it is exposed to the market, or to match the offer of a third-party buyer after the property has been on the market. To legally commit to providing one or more of these opportunities, the owner grants the organization a right of first offer or right of first refusal. WeConservePA guide. 5 pages.