Realty One Property Management, Inc, 1745 Shea Center Drive, Suite #400 Highlands Ranch, CO, USA
PAGE EXCLUSIVE FOR OWNERS: Right of first REfusal
Cherry Creek 3 Declarations
Because Third Cherry Creek Townhouse Corp. is an organization, all owners agreed to purchase a home here in compliance with the governing documents, including the Declarations.
Article 8 of Declarations
You can see the entire sets of Declarations, By-Laws and Articles of Incorporation on the "HOA forms and Documents on the web site.
Article 8, Section 8.1 stipulates any owner who decides to sell his or her property must provide certain information and within a specified time period to the Association.
Article 8, Section 8.2 lays out the "Right of First Refusal" used by the Association. It states that within 15 days after giving notice of the sale, any member or group of members of the Association can submit an identical firm and binding offer to purchase the Unit up for sale. It requires that the Owner shall accept the offer from an existing owner or group of existing owners in preference to the original offer.