If the right of first refusal only applies to the asking price, there isn't much downside except if the market is hot and/or you have a highly sought-after plac

If the right of first refusal only applies to the asking price, there isn't much downside except if the market is hot and/or you have a highly sought-after place where multiple bidders push the price above the asking price. If that's not the case, set the asking price at an amount you're confident the market won't pay, and the psychological pressure of the neighbor having wanted right of first refusal might make them buy at your inflated price.