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?