What does RFR stand for in regards to real estate?

I was viewing house listings online. One house I was interested in said "Status: Active RFR". I know RFR generally means ready for reuse, but is that the same meaning when you are dealing with a home's status?

6 years ago - 1 answers

Best Answer

Chosen by Asker

"right of first refusal". That means that they've got a contract on the house, but for some reason or another they can't close right now. The seller has accepted the contract, but says that they're still going to take other offers, should they come in before the buyer can close. If another offer comes in, the seller will contact the buyer and say that they have to close the deal that they have under RFR. If the buyer can't, the seller can accept the new offer.

6 years ago