Lock out agreement

A lock-out agreement is a written or oral contract between a seller and buyer granting the buyer exclusive rights to the sale of the property for a certain period of time.

Primarily, this is an advantage for the buyer as it reduces the risk of being gazumped. However, when the market is volatile for sellers, it increases the likelihood of a sale progressing to completion, so is of considerable value to them, too.

Need help sorting out the legal aspects of your planned house-move? Call In-Deed's friendly team of advisers on 0800 038 6886 today to get things moving smoothly.

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