Re: Right of First Refusal
From: Kay Argyle (Kay.Argyleutah.edu)
Date: Tue, 26 Apr 2011 09:03:15 -0700 (PDT)
Several years ago, after someone was told the right of first refusal in our
CC&R was a factor in their being unable to get a VA mortgage, we debated its
usefulness.  

On the one hand, the clause created complications just sitting there in the
CC&R, unexercised.

On the other hand, it would be useful only in limited circumstances:
* An owner intended to sell to someone the community really could not live
with, and
* The community actually had the money to exercise the right of first
refusal.

We revised the CC&R to remove it.

Kay
Wasatch Commons
SLC
 

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