Section 7.12 First Right of Refusal
First Right of Refusal Listings subject to a ratified contract containing a First Right of Refusal contingent upon the sale of real property may remain active in the MLS database. The First Right field must be completed and the details of the first right entered into agent only remarks within five (5) days of contract ratification. Once the First Right of Refusal contingency has been removed, the listing status must be updated to pending within five (5) days of the contingency removal. Rev 4/17
Article 7: SHOWING AND SELLING PROCEDURES- Section 7.1 Showings and Negotiations
- Section 7.2 Presentation of Offers
- Section 7.3 Submission of Subsequent Offers
- Section 7.4 Counter Offers
- Section 7.5 Rights of Cooperating Participant
- Section 7.6 Right of Listing Participant in Presentation of Counter-Offer
- Section 7.7 Advertising – Moved to 4.9.4
- Section 7.8 Sold/Contract Pending Signs
- Section 7.9 Distribution of Tax Record Information
- Section 7.10 Reporting Pending Sales
- Section 7.11 Repealed 8/11
- Section 7.12 First Right of Refusal
- Section 7.13 Reporting Cancellation of Pending Status
- Section 7.14 Reporting Sales to the Service
- Section 7.15 Reporting Refusal to Seller