Comments on: Right of First Refusal http://www.feld.com/wp/archives/2006/04/right-of-first-refusal.html Fri, 19 Mar 2010 04:55:29 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: najbart http://www.feld.com/wp/archives/2006/04/right-of-first-refusal.html/comment-page-1#comment-2833 najbart Sat, 15 Jul 2006 04:03:07 +0000 http://www.feld.com/wp/?p=1004#comment-2833 I bought 3 vacant lots with a first right of refusal on the property on either side of mine. Now the people on the one side got an offer, but it includes the house with several other lots across the street which is owned by the same person. They say I cannot buy just the lot next to mine with out buying all of her property. Guess Iam confused, that is not what the rules in the subdivision say. The rules state the ajoining lot next to mine. So instead of $5,000. for a single that ajoins mine, they want $163,000 for the whole thing, including thier property across the street. The title company sent me the first right of refusal with the sell price, should this also include the closing date. Does anyone know anything or had this happen to them? Thanks alot I bought 3 vacant lots with a first right of refusal on the property on either side of mine. Now the people on the one side got an offer, but it includes the house with several other lots across the street which is owned by the same person. They say I cannot buy just the lot next to mine with out buying all of her property. Guess Iam confused, that is not what the rules in the subdivision say. The rules state the ajoining lot next to mine. So instead of $5,000. for a single that ajoins mine, they want $163,000 for the whole thing, including thier property across the street. The title company sent me the first right of refusal with the sell price, should this also include the closing date. Does anyone know anything or had this happen to them? Thanks alot

]]> By: Kimbal http://www.feld.com/wp/archives/2006/04/right-of-first-refusal.html/comment-page-1#comment-2832 Kimbal Wed, 26 Apr 2006 20:17:09 +0000 http://www.feld.com/wp/?p=1004#comment-2832 One thing that has been successful for me in the past is offering a Right of First offer. we did this when Knight-Ridder invested in my old company Zip2. It was a very strategic investment for them, and they needed to know we would not try and sell the company behind their back. The right of first offer gave them notice that we were potentially going to sell the company within 6 months of the notice to them. They had 15 days to make an offer. the timeline needed to be short, because acquirors can come quickly and they need to see whether there really is an opportunity to buy the company. In practice it was just a way to give them a heads up. One thing that has been successful for me in the past is offering a Right of First offer. we did this when Knight-Ridder invested in my old company Zip2.

It was a very strategic investment for them, and they needed to know we would not try and sell the company behind their back.

The right of first offer gave them notice that we were potentially going to sell the company within 6 months of the notice to them. They had 15 days to make an offer.

the timeline needed to be short, because acquirors can come quickly and they need to see whether there really is an opportunity to buy the company.

In practice it was just a way to give them a heads up.

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