Lock-out agreements
Quite understandably, most accounts of lock-out agreements are directed at the gazumphobic buyer: see, for example,
But despite their short duration, they can present unwelcome surprises for the seller. Appropriate provisions are suggested by Mark Heighton, of CMS Cameron McKenna, in
Lock-out agreements
Quite understandably, most accounts of lock-out agreements are directed at the gazumphobic buyer: see, for example, Lock-outs: the purchaser’s remedy Estates Gazette 8 November 1997.
But despite their short duration, they can present unwelcome surprises for the seller. Appropriate provisions are suggested by Mark Heighton, of CMS Cameron McKenna, in Lock up and go Estates Gazette 22 June 2002, p146, which considers, inter alia, the need to tie the buyer down to a timetable and the practicality of taking a non-returnable deposit.
