What is considered a bona fide offer?

A bonafide offer is generally made in good faith and able to be accepted. Even a nonbinding letter of intent can serve as a bonafide offer. Any offer that includes "extra" terms may be considered a bonafide offer. Examples include government approval or an agreement to restrict the property in question.

What constitutes a bona fide offer in real estate?

A bonafide offer is generally made in good faith and able to be accepted. Even a nonbinding letter of intent can serve as a bonafide offer. Any offer that includes "extra" terms may be considered a bonafide offer. Examples include government approval or an agreement to restrict the property in question.

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Letter offering to Sell Non-Operated Properties that is Unsolicited...

Broward Florida Letter offering to Sell Non-Operated Properties that is Unsolicited and includes Conditions of offer

Name: Broward Florida Letter offering to Sell Non-Operated Properties that is Unsolicited and includes Conditions of offer
Brand: US Legal Forms
Rating: 4.56 (371 reviews)

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

County:

Broward

Control #:

US-OG-425

Format:

Instant download

Description

This is a form of a Letter offering to Sell Non-Operated Properties (Unsolicited, including Conditions of offer).

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How to fill out Broward Florida Letter Offering To Sell Non-Operated Properties That Is Unsolicited And Includes Conditions Of Offer?

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FAQ

Bona fide is a Latin term meaning "good faith". In legal terms, it is often used to refer to a purchaser or holder who takes something without fraud, deceit, or knowledge of a lien or superior claim by another. Bona fide refers to a quality of genuineness.

A Latin term meaning "good faith". This refers to an individual's position under the law that is based in good faith without notice of fraud with regards to a particular transaction or with regards to the authenticity of a particular document.

The right of first refusal applies to sales as well as rentals. And with any sale or rental, the board has the opportunity to exercise its right of first refusal or to waive that right.

Once that is done the ROFR holder has the option of purchasing the property instead or waiving their ROFR and allowing another sale to go through. To get to closing, a title company has to have a signed Waiver of Right of First Refusal document in the file before funding can occur.

The Right of First Refusal shall terminate as to any Shares upon the earlier of (i) the first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly traded.

What Is The Right Of First Refusal In Real Estate? A right of first refusal is a fairly common clause in some business contracts that essentially gives a party the first crack at making an offer on a particular transaction.

A "right of first refusal" is a contractual right on the part of a potential buyer to purchase real property within a specified period of time after another potential purchaser submits a purchase offer.

A bonafide offer is generally made in good faith and able to be accepted. Even a nonbinding letter of intent can serve as a bonafide offer. Any offer that includes "extra" terms may be considered a bonafide offer. Examples include government approval or an agreement to restrict the property in question.

There's a time limit built into the typical ROFR agreement, so when the seller does decide to put the property up for sale, the potential buyer needs to be ready to make a quick decision and know whether they can line up the financing. They should be ready to enter into a purchase agreement within a matter of days.

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Broward Florida Letter offering to Sell Non-Operated Properties that is Unsolicited and includes Conditions of offer

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How to fill out Broward Florida Letter Offering To Sell Non-Operated Properties That Is Unsolicited And Includes Conditions Of Offer?

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FAQ

Is bona fide a legal term?

What does it mean to act bona fide?

Can you waive right of first refusal?

How do you get out of a right of first refusal?

How do you cancel a right of first refusal?

What is a release of right of first refusal?

What does it mean to exercise right of first refusal?

What is considered a bona fide offer?

Is there a time limit on first right of refusal?

What constitutes a bona fide offer in real estate?

Interesting Questions

What is Broward Letter offering to sell non-operated properties?

What does 'unsolicited' mean in this context?

What are the 'Conditions of offer716065' mentioned in the Broward Letter?

Are the non-operated properties currently owned by Broward?

Can anyone buy the non-operated properties mentioned in the Broward Letter?

What happens if a buyer doesn't meet the 'Conditions of offer716065'?

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