Right of first refusal - who pays?

Are you asking because you're involved in a condo that is thinking about executing this right?

From my experience, condos don't usually have enough money for emergency funds, much less purchasing a condo outright. They would probably take a loan (at a rate much higher than you or i).

Either way an attorney is the right person to ask.

It happened once several years ago at 525 east 80. The Board exercised it's right and turned around and sold the apartment to another person within the 30 or so days they had, Thus the Board did not put the condo's reserve on the line neither took a loan. It was very upsetting to the buyers and I believe (not sure) that the condo pocketed the difference between the original price and the higher price of the sell.I have no idea if this was an "inside" arrangement.