Posted on: 07th Jul, 2010 08:26 pm
Does the seller offer proof of a bonified offer to the holder of a right of first refusal on a lot, or does the holder just have to trust that there is one? If the lot is offered as part of a package of 3 lots, can the seller (who has a third party offer on the package) manipulate the price of the lot with the right of first refusal to carry a higher price than an appraisal would show in relation to the other two lots when presenting the offer to the holder of the right of first refusal?
As far as I know, the seller should offer the proof of the offer to the holder of the right of first refusal. The manipulation of the price of the lot can be considered fraudulent. In order to clarify the whole matter, you may get in touch with an attorney who will go through the docs and let you know what steps you need to take.