Contracts
Right of First Refusal
A concise definition for the California Real Estate Exam study guide.
Definition
Gives the holder a chance to match a third-party offer before the owner sells to that third party. Triggered when the owner decides to accept a qualifying offer.
Why it matters on the California real estate exam
Know the definition, recognize how the term appears in a fact pattern, and compare it with related concepts before choosing an answer.
Study this topic in context
Read the related chapter for the surrounding concepts, examples, and exam tips.
Chapter 3: Contracts, Offers, Contingencies & Remedies →