Lease Option Condo Where Right of Refusal Exists? - Posted by Dazed and Confused

Real Estate Investing Real Estate Law
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Posted by Dazed and Confused on March 12, 2007 at 18:42:38:

>>…probably going to have to take all the documentation to a good real estate attorney and ask his/her opinion…not likely to get a good one here…<<

I disagree. I’ve been coming to creonline.com for years and I’ve found that the people here have seen and done just about everything.

I’ve gotten a ton of good advice.

I probably will end up talking to my attorney but I wanted to check here also.

Thanks for the reply.
Dazed

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Lease Option Condo Where Right of Refusal Exists? - Posted by Dazed and Confused

Posted by Dazed and Confused on March 09, 2007 at 16:37:25:

I’m looking to lease option a condo but the condo association members have “right of first refusal” on any contract on a condo sale.

How would that affect a lease option? Would the other owners have the right to take over the L/O contract in the beginning or just the sale portion should I execute my option say a year from now?

If it’s the latter, what about the option consideration I would pay? Would I get that back should an owner exercise their right at that point?

Thanks,
Dazed

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Lease Option Condo Where Right of Refusal Exists? - Posted by Bill H

Posted by Bill H on March 12, 2007 at 15:10:46:

Dazed, probably going to have to take all the documentation to a good real estate attorney and ask his/her opinion…not likely to get a good one here.

Good Luck,
Bill H