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A right of first offer (ROFO) and a right of first refusal (ROFR) each have unique advantages; which is better depends on the situation. A ROFO gives the party the first chance to make an offer before the property is listed, while a ROFR requires the seller to present any offers they receive to the holder. Depending on your goals, using a First Right Of Refl Agreement Template can help you decide which option best suits your needs. Having clear terms will also make the process smoother.
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