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Condo for sale with right of first refusal.

I was checking zillow today and I came across a condo for a very good price in a decent area which had a right of first refusal. A big red flag for me was that I can remember seeing this same condo for sale about a year and a half ago for the same price. They seem to be taking it down and putting it back up over and over again because it says it was posted recently. It also does not allow rentals.

My understanding of right of first refusal is that if you purchase the condo and want to sell it the HOA gets first dibs, correct?

On this case what is the HOA trying to accomplish? It seems to me like they just want someone who will stick around for a while but I am wondering if I'm missing something.

submitted by /u/5prcnt
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/c6td2x/condo_for_sale_with_right_of_first_refusal/
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