I have seen very few of these contingent offers of late and the ones I have seen have not worked out well for the buyer or the seller. The 48-72 'right of first refusal' is seen as a negative by most buyers and they will invariably hesitate to look or write an offer even when there are few other comparable homes for sale. I don't recommend it accept as a desperate move and a last resort.
As far as Dana's answer - are we allowed to accept and execute a contract and not show it to be a 'right of first refusal in the MLS. Anyone have experience or a thought on this?
Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246