Revocation of Rights of First Refusal – Lake of the Woods

Lake of the Woods recently revoked the restrictive covenant that required sellers to offer their property for sale to their neighbors and the Association before it could be sold to an outside party. The covenant had, for many years, kept Veterans from using their VA mortgage benefit and, until recently, precluded HUD FHA loans as well.

The LOWA General Manager, has issued a memo that says there is no longer a need to complete the paperwork for Paragraph 17. Effective immediately we will not have to include a contingency in our contracts nor follow the 30 day rule.

Click the link and feel free to print and distribute to your lenders and title companies. Ā Revocation of the Rights of First Refusal

This entry was posted in The Business of Real Estate by Suzanne Brady. Bookmark the permalink.

About Suzanne Brady

Suzanne began in RE in 1995 and earned the CAAR Rookie of the Year award in 1996. She has been a consistent top producer ever since; earning many company & association awards along the way. Suzanne became a managing broker in 2003 and is currently managing the Locust Grove office for Coldwell Banker Elite. She is a member of the FAAR Board of Directors, an Education Workgroup Co-Chair, a member of the FAAR Investment Workgroup, a member of the FAAR Honor Role and the VAR Honor Society for 2007 and 2008.

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