How useful are Exclusivity Agreements?

In commercial and residential property transactions, particularly where prime properties are in short supply, exclusivity agreements also known as lock-out agreements can be an attractive option when they are used in anticipation of a sale and purchase agreement.

Call our property experts for a free, no-obligation quote on obtaining an exclusivity agreement on 0207 703 5034 or fill out the contact form.

What is an exclusivity agreement?

It is a preliminary agreement entered into between the buyer and seller at the beginning of a transaction for the sale and purchase of a property. This will usually cover a timetable for the supply of title documentation by the seller, a timetable for the buyer to raise enquiries and an obligation on both parties to instruct their lawyers.

The intention of the agreement is to allow a buyer to proceed with searches, investigations and due diligence without interruption from other interested buyers. It prevents a seller from negotiating with any other party during a fixed period, known as the exclusivity period.

At the end of the fixed period, if the buyer cannot exchange contracts then the agreement comes to an end and the seller is free to negotiate with other buyers. Usually, the buyer is required to pay a non-refundable deposit to cover the seller’s expenses if the buyer does not go ahead.

 

Is an exclusivity agreement binding?

If the seller breaches the agreement by selling the property to someone else during the exclusivity period the buyer will be able to recover damages to cover wasted costs, for example legal fees or surveyor’s fees.

Until a sale contract is exchanged, a seller will still be able to sell the property to anyone else at the end of the exclusivity period as there is no legal obligation to continue to deal with the buyer.

In many ways an exclusivity agreement creates a “gentlemen’s agreement”.

 

Is it worth having such an agreement in place?

Exclusivity agreements provide a potential buyer with some breathing space to carry out their conveyancing as it allows a short period of protection within which a buyer can proceed with its due diligence. If, however, a potential buyer is looking for longer-term protection while it decides if it wants to proceed then this type of agreement probably is not the answer.

Call our property experts for a free, no-obligation quote on obtaining an exclusivity agreement on 0207 703 5034 or fill out the contact form.

 

Contact One Of Our Property Solicitors Today

If you need any advice on buying or selling a property, please call one of our property experts for a free, no-obligation quote on on 0207 703 5034 or fill out the contact form

 


    110 replies

    Trackbacks & Pingbacks

    1. tadalafil 20 mg reviews

      tadalafil 20 mg reviews

    2. stromectol price usa

      stromectol price usa

    3. buy oral ivermectin

      buy oral ivermectin

    4. vardenafil (levitra)

      vardenafil (levitra)

    5. ivermectin 50 mg

      ivermectin 50 mg

    6. order viagra no prescription

      order viagra no prescription

    7. how to buy stromectol

      how to buy stromectol

    8. tadalafil herbal substitute

      tadalafil herbal substitute

    9. cheap sildenafil canada

      cheap sildenafil canada

    10. research tadalafil

      research tadalafil

    11. how long does sildenafil last

      how long does sildenafil last

    12. levitra online men

      levitra online men

    13. tramadol from us pharmacy

      tramadol from us pharmacy

    14. methocarbamol robaxin 750 mg

      methocarbamol robaxin 750 mg

    15. how long does tizanidine stay in your urine

      how long does tizanidine stay in your urine

    16. venlafaxine withdrawal relief

      venlafaxine withdrawal relief

    17. synthroid propranolol

      synthroid propranolol

    18. voltaren gel from cananda

      voltaren gel from cananda

    19. actos colegial

      actos colegial

    20. acarbose wirkungsmechanismus

      acarbose wirkungsmechanismus

    21. generic name for remeron

      generic name for remeron

    22. protonix side effects mayo clinic

      protonix side effects mayo clinic

    23. abilify alternatives

      abilify alternatives

    24. repaglinide preparation

      repaglinide preparation

    25. bupropion hair loss

      bupropion hair loss

    26. trazodone and celexa

      trazodone and celexa

    27. augmentin with food

      augmentin with food

    28. amitriptyline trade name

      amitriptyline trade name

    29. aspirin chemical structure

      aspirin chemical structure

    30. depakote level too high symptoms

      depakote level too high symptoms

    31. ezetimibe tablets side effects

      ezetimibe tablets side effects

    32. side effects of flomax in men

      side effects of flomax in men

    33. how long does flexeril make you sleepy

      how long does flexeril make you sleepy

    34. what is diclofenac sodium

      what is diclofenac sodium

    35. contrave information

      contrave information

    36. effexor side effects first week

      effexor side effects first week

    37. what is cozaar

      what is cozaar

    38. ddavp comprimidos 0 2 mg

      ddavp comprimidos 0 2 mg

    39. stopping neurontin

      stopping neurontin

    40. can i take amoxicillin with tylenol

      can i take amoxicillin with tylenol

    41. does bactrim cover mrsa

      does bactrim cover mrsa

    42. cephalexin 500

      cephalexin 500

    43. how much does ciprofloxacin cost

      how much does ciprofloxacin cost

    44. viagra price comparison canada

      viagra price comparison canada

    45. abilify and fluoxetine

      abilify and fluoxetine

    46. weight gain on lexapro

      weight gain on lexapro

    47. sildenafil 100mg price

      sildenafil 100mg price

    48. buy cheap viagra online uk

      buy cheap viagra online uk

    49. order viagra soft

      order viagra soft

    50. rgeneric cialis

      rgeneric cialis

    51. kamagra india pharmacy

      kamagra india pharmacy

    52. can you purchase viagra online

      can you purchase viagra online

    53. how long cialis last

      how long cialis last

    54. where can i buy generic viagra in usa

      where can i buy generic viagra in usa

    55. viagra brand name generic drug

      viagra brand name generic drug

    56. tadalafil 30 tablet 5 mg

      tadalafil 30 tablet 5 mg

    57. cialis generic over the counter

      cialis generic over the counter

    58. tadalafil generic india

      tadalafil generic india

    59. online viagra pharmacy reviews

      online viagra pharmacy reviews

    60. best online pharmacy clomid

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    61. buy propecia pharmacy

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    62. cost of viagra at pharmacy

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    63. uk online pharmacy viagra

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    64. essay help writing

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    65. professional essay writers

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    66. tadacip tadalafil

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    67. viagra pill cost canada

      How useful are Exclusivity Agreements? – Meaby&Co Solicitors

    68. Viagra vs viagra https://reallygoodemails.com/onlineviagra

      Cheers. Valuable information!

    69. … [Trackback]

      […] Read More here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    70. Esport says:

      … [Trackback]

      […] There you will find 88152 additional Information on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    71. … [Trackback]

      […] Find More on on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    72. … [Trackback]

      […] Read More Info here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    73. relx says:

      … [Trackback]

      […] Read More to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    74. … [Trackback]

      […] Here you will find 68234 additional Info on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    75. … [Trackback]

      […] Find More Info here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    76. … [Trackback]

      […] Information to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    77. slot1234 says:

      … [Trackback]

      […] Find More on on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    78. hotel cecil says:

      … [Trackback]

      […] Read More Information here to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    79. cdl jobs says:

      … [Trackback]

      […] Read More Information here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    80. … [Trackback]

      […] Here you will find 99196 more Info to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    81. … [Trackback]

      […] Info to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    82. Hand guns says:

      … [Trackback]

      […] Find More on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    83. dumpshop eu says:

      … [Trackback]

      […] Find More Info here to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    84. 悅刻煙彈 says:

      … [Trackback]

      […] Here you can find 80500 more Information on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    85. … [Trackback]

      […] Here you will find 75482 more Info to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    86. … [Trackback]

      […] Read More Info here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    87. … [Trackback]

      […] Find More on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    88. 대밤 says:

      … [Trackback]

      […] Information on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    89. … [Trackback]

      […] Find More to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    90. … [Trackback]

      […] Info to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    91. … [Trackback]

      […] Information to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    92. … [Trackback]

      […] Find More to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    93. SA says:

      … [Trackback]

      […] Read More Info here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    94. visit site says:

      … [Trackback]

      […] Read More on on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    95. … [Trackback]

      […] Read More Info here to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    96. … [Trackback]

      […] Read More Info here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    97. … [Trackback]

      […] Find More here to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    98. … [Trackback]

      […] Find More here to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    99. … [Trackback]

      […] There you will find 59341 more Information to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    100. … [Trackback]

      […] Find More on to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    101. … [Trackback]

      […] Find More Information here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    102. … [Trackback]

      […] Read More Information here to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    103. … [Trackback]

      […] Info to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    104. … [Trackback]

      […] Read More Information here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    105. fake rolex says:

      … [Trackback]

      […] Read More on on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    106. … [Trackback]

      […] Find More Information here to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    107. … [Trackback]

      […] There you will find 56782 additional Information to that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    108. … [Trackback]

      […] Read More Information here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    109. … [Trackback]

      […] Read More here on that Topic: meaby.co.uk/useful-exclusivity-agreements/ […]

    Leave a Reply

    Want to join the discussion?
    Feel free to contribute!

    Leave a Reply