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Lane Gordon

Sep 25, 2026

5:58
Do I go out and find like one buyer? Do I want to process? What does this look like? Even if I was working with a company like 733 Park, like how does this work?
6:07
Yes.
6:08
Well, you know, of course, James, they should be they should be speaking with me, of course.
6:12
But should should they decide that they are going to try and do it themselves? You know that.
6:19
And again, this is this is not an advertisement.
6:21
This is the actual challenge of doing it yourself.
6:25
When you do it yourself, as good as you are, for example, signing up a contract.

11 MINS LATER

speaker_1NARRATOR
17:08
Right.
8:49
So maybe you could dive into what that, what that means exactly.
8:51
Sure.
8:52
So, so the right of first refusal, what, what's, what's somewhat funny in, in, in my business, working with all these people with buying and selling these things all day long is is often every couple of weeks, I get somebody that's kind of surprised that there's this right of first refusal and the initials ROFR, sometimes people call it a ROFR, but it's just short for right of first refusal.
9:19
Effectively with that, the right that is there is that typically speaking, if you go out and cut an agreement with somebody to buy your portfolio or residual, you then, and this is also in the agreement that you have to look for, there's something in agreement that tells you within so many days or almost immediately, I think, of signing an LOI, a letter of intent to buy your portfolio, you have to submit a copy of that to your ISO or processor.
9:52
They then have what's called the right of first refusal, meaning they have to either match the offer that's on the table Or they can waive it and say, yep, no, we're going to pass.
10:07
We just want to verify that the buyer is legit because we're going to be sending payments over to them and everything else.
10:15
And they do some very basic check in that case.
14:53
And then what are the other ones?

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