Right of first purchase and market-conform price.

Questioner

We want to sell our apartment. The purchase contract gives our neighbors the right of first purchase. We ask if they want to buy it. Yes, says the neighbor, at a market-conform price. We want to pay the amount for it that we paid for it 2 years ago. Can the neighbor reject this amount because he does not consider it to be in line with the market?

Lawyer

If your neighbours have a right of first refusal, this does not automatically mean that they can determine the price. This right merely gives them the first chance to buy the property before it is offered to others. When determining a sales price, you and your neighbors should negotiate what you consider to be "market-based." If the purchase agreement does not specifically state how the market-based price should be determined, it should in principle be determined based on the current housing market. The price you paid 2 years ago may therefore differ from the current market value. Your neighbours could argue that this is no longer in line with the market. Therefore, it may be advisable to hire an independent appraiser to determine the market value of the property. If this is difficult to arrange, it may also be helpful to look at recent sales prices of similar properties in your area to get an idea of ​​the market conformity of your price. Ultimately, the neighbors are free to accept the offer or not. As with any sale, both parties must agree on the price. However, if you cannot reach an agreement, it may be wise to seek legal assistance to determine what your rights and obligations are in this specific situation. --------------- Stichting Rechtswinkel.nl is a national organization with students and volunteers. The above advice is based on limited information and may be incomplete or even incorrect for your situation. Always consult a lawyer or attorney for your further steps. Read disclaimer: https://rechtswinkel.nl/disclaimer I would like to invite you to rate the above answer so that we can learn from your response.