Right of First Refusal gives the condo board the legal right to purchase your unit on the exact same terms as the buyer's executed contract. Unlike co-op boards, condo boards cannot simply reject a buyer - they must actually produce the capital to buy the unit themselves. This happens extremely rarely. The real risk is the 20-30 day administrative delay while the board reviews and issues its formal waiver.
From the seller playbook: Condo Right of First Refusal Risk
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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