First right of refusal & a multi-parcel auction?
In a multi-parcel auction, bidders can pursue individual tracts, combinations, or the entire property. This flexibility often drives higher returns because bidders can focus on parcels they value most. However, when a tract carries a right of first refusal, it introduces a legal and logistical complication. The sale cannot be finalized until the right is exercised or waived, which may delay settlement and affect bidder confidence. A right of first refusal gives a third party, such as a […]
