Right of First Refusal Agreement
This template outlines a Right of First Refusal Agreement, ensuring that a designated Buyer has the first opportunity to purchase a specific Property before it can be offered to third parties. It details the process for the Seller to present bona fide offers to the Buyer and the Buyer's response timeline, culminating in a final purchase by the Buyer if other offers are rejected.
Right of First Refusal Agreement
[name of seller] (hereafter “Seller”) and [name of buyer] (hereafter “Buyer”), having determined that it is in both parties’ best interests to govern the exchange of [name of property] (hereafter “Property”), hereby enter into a contract under the following terms:
The Seller shall not sell, trade, grant or encumber the Property except as provided by the stipulations agreed upon in this contract. The Seller understands that this agreement extends to [his/her] shareholders, heirs, successors, agents or business partners.
If the Seller should receive a bona fide, acceptable and written offer from a third party to buy or trade the Property, [he/she] will first offer the Property to the Buyer in writing at the same price and with the same terms.
The Buyer will have # calendar days from the date [he/she] receives the offer to respond. If [he/she] has not responded by that time, it will constitute a rejection and the Seller will be free to accept an offer from a third party.
If the Buyer accepts the offer, [he/she] will provide a Notice of Acceptance before the deadline. If not, [he/she] will provide a Notice of Refusal.
If the Buyer and all other third parties reject the Seller’s offer, the Buyer will purchase the Property for [amount].
The Seller will deliver the Property to the Buyer no later than # days after purchase.
This agreement will stay in effect until [date], at which time all stipulations and requirements will be considered void.
In witness to their agreement to the terms of this contract, the parties affix their signatures below:
____________________________________ _________________________________
[name of seller] [name of buyer]
[signature] [signature]
[date] [date]
[address] [address]
[city, state, zip] [city, state, zip]
5.0 out of 5 on Google
Read reviewsAs seen in
Frequently asked questions
A template isn't binding on its own - like any contract, it becomes binding once it's properly completed and signed. Templates in our curated library are professionally drafted for US or UK law; review any template before you sign it.
Yes. Chat with GitLaw to edit any section, or make changes directly in the editor.
Yes, read about team plans here.
Describe what you need in the chat and GitLaw will draft it for you.
Templates in our curated library are professionally drafted for US or UK law. The wider library comes from the GitLaw community and public sources - a solid starting point, but check any template fits your situation before you rely on it.
Mostly US and UK law. Some templates use general commercial terms that work across jurisdictions, and many note which law they're written for.
It depends on the situation. Templates work well for routine business agreements. For anything involving significant money, complex IP, employment, or areas you're unsure about, it's worth getting professional advice before you sign. GitLaw provides templates and tools, not legal advice.
Open any template in GitLaw and describe the change you want in the chat — 'make clause 4 mutual' or 'add a 30-day notice period', for example. GitLaw drafts the revised language and shows it as a suggested edit. You accept, reject, or keep editing from there.
Yes. Upload a Word, PDF, or Markdown file and GitLaw will open it in the editor. You can review, edit, or chat with GitLaw about it the same way you would with any template from the library.
Trusted by 5,000+ businesses
From template to signed, in one place
Every template opens in an editor with an AI agent alongside it.
Open
Pick a template and open it. Nothing to download, and no credit card to start.
Free to open
Edit with AI
Describe your situation in chat and the agent adapts the wording, clause by clause.
Tracked changes you can review
Send and sign
Share it for negotiation, then collect signatures without leaving GitLaw.
eSign included
Built for your legal work,
with practicing lawyers
Trained on 5,500+ clauses and specialist areas of law. Built with a standards committee of independent lawyers.
As seen in
Ready to get started?
No sales calls, no credit card. Just chat with GitLaw.
GitLaw provides templates and tools, not legal advice. Templates are a starting point, not a substitute for advice on your situation - for anything significant, speak to a qualified lawyer.