What is a Lockout??

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Original Message:

What is a Lockout?? (by Mike N.):

janicej25 wrote:
I'm just wondering why and also how do you kow when you exchange through Redweek if the unit is a lockout unit? Will the listing say it is?
The only thing that will be listed is that it is a studio, i BR, etc. There is no other information such as limited kitchen, stairs, etc.