These Terms of Business explain how MDM Business Ltd trading as Sell Up operates when purchasing residential property from homeowners. They outline the service we provide, the responsibilities of both parties, and the conditions that apply if you decide to proceed with selling your property to us.
Please read these terms carefully before agreeing to sell your property through Sell Up.
1. Our Service
Sell Up is a residential property buying company that offers homeowners the option of selling their property directly to us for a cash purchase.
Our service is designed for homeowners who want a fast, certain and straightforward sale without the delays that can occur when selling on the open market.
By contacting Sell Up and requesting an offer, you are under no obligation to proceed with a sale.
2. How Our Offers Work
Any offer made by Sell Up will be based on a number of factors including:
- The property’s condition
- Local property market data and comparable sales
- The type and tenure of the property (for example freehold or leasehold)
- Any repairs, structural issues or legal matters affecting the property
- The speed and certainty of the proposed purchase
Because Sell Up provides a direct cash purchase and removes many of the risks associated with traditional property sales, offers may be below full open market value.
If you are unsure whether our service is suitable for you, we recommend seeking independent advice before proceeding.
3. The Sales Process
If you choose to proceed with Sell Up, the typical process will involve:
- An initial discussion about your property and circumstances
- A provisional offer based on available information
- Further checks, surveys or inspections where required
- Appointment of solicitors to progress the legal work
- Exchange of contracts and completion on an agreed timeline
We will aim to keep you informed throughout the process and work with all parties involved to progress the sale as smoothly as possible.
4. Independent Legal Advice
You are free to appoint your own independent solicitor or conveyancer to act on your behalf during the sale.
Sell Up may recommend solicitors who are familiar with the process of direct property purchases. However, you are not required to use these solicitors and are free to choose your own legal representation.
Where a recommended solicitor is used, any referral arrangement will be disclosed to you.
5. Property Information
When selling your property to Sell Up, you agree to provide accurate and complete information about the property to the best of your knowledge.
This includes information relating to:
- Ownership of the property
- Tenure (freehold or leasehold)
- Any structural issues or defects
- Tenancies or occupants
- Any legal restrictions or disputes affecting the property
If new information comes to light during the process which materially affects the property’s value or saleability, the offer may need to be reviewed.
6. Changes to Offers
Offers made by Sell Up are usually subject to further checks, which may include:
- Property surveys
- Legal searches
- Title checks
- Confirmation of property condition
If these checks reveal information that was not known when the original offer was made, the offer may need to be revised or withdrawn.
Any changes to the offer will always be explained clearly.
7. Fees and Costs
Sell Up does not charge homeowners any fees for requesting an offer or for selling their property to us.
In most cases, Sell Up will also cover the standard legal costs associated with the transaction when using our recommended solicitors, including the legal fees for the solicitor handling the sale.
However, sellers may still be responsible for certain costs that relate specifically to their property or personal circumstances. These may include:
- Mortgage redemption fees charged by your lender
- Outstanding service charges or ground rent on leasehold properties
- Management information packs for leasehold properties
- Costs relating to resolving title or ownership issues
- Any specialist legal work required to complete the transaction
Your solicitor will advise you if any such costs apply.
There is no obligation to proceed with the sale after receiving an offer from Sell Up.
8. Withdrawal from the Sale
Until contracts are exchanged, either party may withdraw from the proposed sale.
If you decide not to proceed with the sale, you should notify us as soon as possible so that the transaction can be halted.
9. Use of Third Parties
Sell Up may work with surveyors, solicitors, property professionals and other specialists to assist in assessing and purchasing properties.
Where third-party services are used, we will ensure they operate to appropriate professional standards.
10. Complaints
Sell Up is committed to providing a professional service to all clients.
If you are dissatisfied with any aspect of our service, please refer to our Complaints Procedure, which explains how we investigate complaints and how matters can be referred to the Property Ombudsman if necessary.
11. Regulation and Standards
Sell Up operates in accordance with the relevant legislation and industry standards applicable to residential property buying companies.
These include regulations relating to:
- Consumer protection
- Property transactions
- Anti-money laundering requirements
- Data protection and privacy
We are committed to conducting our business in a fair, transparent and professional manner.
12. Updates to These Terms
These Terms of Business may be updated from time to time to reflect changes in legislation, industry guidance or our services.
The latest version will always be available on our website.
13. Our Role in the Transaction
Sell Up operates as a property buying business.
Depending on the circumstances, we may:
- purchase your property directly in our own name; or
- introduce your property to, or arrange for the purchase by, a third-party investor, funding partner, or associated company.
This means that we are not always the ultimate purchaser of your property, and in some cases we act as an introducer or intermediary.
Where a third-party purchaser is involved:
- This will be clearly disclosed to you before you enter into any binding agreement
- The identity of the purchaser will be confirmed through the legal process
- Sell Up may receive a fee, margin, or financial benefit from facilitating the transaction
You acknowledge that:
- Our service is a commercial property buying service, not an estate agency acting in your best interests
- We do not act on your behalf in negotiating the highest possible price
- Our offers reflect a discounted price in exchange for speed, certainty, and convenience
We strongly recommend that you seek independent legal and financial advice before proceeding.
14. No Obligation to Accept an Offer
Requesting a valuation or receiving an offer from Sell Up does not place you under any obligation to sell your property to us.
You remain free to:
- Seek independent advice
- Obtain other valuations
- Sell through an estate agent or another buyer
- Withdraw from the process at any time prior to the exchange of contracts
We encourage homeowners to consider all available options before deciding which route is best for them.
15. Timescales and Completion
One of the advantages of selling directly to Sell Up is the ability to complete a transaction faster than a traditional property sale.
However, completion times can vary depending on factors such as:
- Legal checks and searches
- Property title issues
- Mortgage redemptions
- Leasehold information from managing agents
- Survey findings
While we will always aim to complete within the timeframe agreed with you, completion dates cannot be guaranteed until the legal process is fully progressed.
Our team will work closely with solicitors and other parties involved to keep the transaction moving forward as efficiently as possible.
16. Your Right to Cancel this Contract (Cancellation Period)
If you are a consumer client and this contract was agreed via telephone or over the internet, you have the right to cancel this contract within 14 days of the date of this agreement without giving any reason up to the time you approve your sales brochure to go live. At this point it will be deemed that we have commenced our service and the contract is live.
If you do request that we begin immediate marketing of the Property during the 14 day cancellation period then this contract will have been fully performed and the agreed fees would be due, notwithstanding that cancellation took place.
To exercise the right to cancel, you must inform us of your decision to cancel this contract by writing to Sell Up, Diamond House, 661a Roundhay Road, Leeds, LS8 4BA via email to hello@sellup.co.uk. To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.
We operate a formal complaints procedure and a copy is available upon request. We are also a member of The Property Ombudsman Scheme for estate agents (TPOS) and follow the Code of Practice. By entering into this agreement you agree that if the Ombudsman asks for information about any aspect of our dealings with you we can provide the information; whether that be in relation to a complaint, or their monitoring process. A copy of their Code of Practice and the Consumer Guide is available from www.tpos.co.uk.
17. No Reliance
You acknowledge that you have not relied on any statement, representation, or promise made by Sell Up other than those expressly set out in writing.
Important Note
These terms do not constitute legal advice. We recommend that sellers seek independent legal advice before entering into any property transaction.
Sell Up provides a direct property buying service. Our offers reflect the speed and certainty of a direct purchase and may be below the full open market value that could be achieved through a traditional estate agent sale.