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IS IT LAWFULL FOR A CONDOMINIUM BY LAWS OR CC&R'S TO HAVE A…

Customer Question
IS IT LAWFULL FOR...

IS IT LAWFULL FOR A CONDOMINIUM BY LAWS OR CC&R'S TO HAVE A CLAUSE THAT THEY HAVE FIRST RIGHT OF REFUSAL WITHIN 20 DAYS, IF ONE WANTS TO SELL THE CONDO. WHAT IF A BUYER IS AVAILABLE AND WANTS TO CLOSE IMMEDIATELY AND WOULD LOOSE THERE PURCHASER BECAUSE OF THIS CLAUSE. MAKING THEM A CONTINGENT PURCHASER.

Lawyer's Assistant: Where is the property located?

GREAT FALLS, MONTANA

Lawyer's Assistant: Has any paperwork been filed?

IS A CLAUSE THEY HAVE PUT IN THE CC&R'S AND I FEEL IT IS NOT LEGAL, ONE HAS THE RIGHT TO SELL HIS PROPERTY TO ANY ONE HE D3SIRES AND FOR ANY FUNDS AGREED UPON???

Submitted: 6 months ago.Category: Real Estate Law
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Answered in 7 minutes by:
11/29/2017
Real Estate Lawyer: Attyadvisor, Attorney replied 6 months ago
Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 8,657
Experience: 30 years of experience in General Practice, Real Estate Law and Estate Law.
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Welcome and thank you for your question. I will be the professional that will be assisting you. Most if not all Condos and HOA's contain a right of first refusal.

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Real Estate Lawyer: Attyadvisor, Attorney replied 6 months ago

Can you tell me the exact language stated in your Condo governing documents?

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Real Estate Lawyer: Attyadvisor, Attorney replied 6 months ago

"When dealing with a homeowners association or condo board: Sometimes a homeowners association or condo board will put a right-of-first-refusal clause into its governing documents. It allows the board to vet potential buyers before a seller can accept an offer. Many communities use the clause to prevent situations like discount sales that would lower their value. In some cases, it even gives the board the option to reject an offer entirely."

https://www.realtor.com/advice/buy/right-of-first-refusal/

Are you online with me?

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Real Estate Lawyer: Attyadvisor, Attorney replied 6 months ago

I am sorry I do not see any responses from you. It is legal for the Condo to reserve the right of first refusal. This is common practice. The Board cannot deny a purchaser in violation of Fair Housing Rights.

Please do not hesitate to ask me any additional questions that you may have with regard to this matter. It would be my pleasure to continue to assist you.

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Thank you for your consideration.

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