first refusal 
noun [mass noun]
The privilege of deciding whether to accept or reject something before it is offered to others: group employees have first refusal on the tickets...
- Executive members are thought likely to back the second option, under which Harrison would build 40 ‘affordable’ houses and sell them to a housing association which would offer existing tenants first refusal.
- They were offered first refusal at a price of $17, 000.00 for house and land.
- Being the affable man he is, he soon befriended local shopkeepers, and won their trust to be offered first refusal on any stock they were chucking out.