Buyers Premium Terms

As stated on all of our online listing portals including but not limited to Rightmove, Zoopla, OnTheMarket and our website and Mobile App through iOS and Android - Let Property is committed to facilitating a smooth transaction process between buyer and seller. Having brokered over £1 Billion of UK Investment Property, to allow for maximum commitment to the sale from both parties, a Buyers Premium, according to the terms stated below, applies in order to secure a property. Below are the list of services provided as our commitment to our buyers:

Reservation Agreement & Exclusivity

When a Buyers Premium has been paid, the Buyer has instantly secured the property for the verbally agreed price for the duration of the invoice term. Let Property will not accept any other offers on behalf of the seller and the property will be removed for sale to other buyers at the point of payment. This payment provides the buyer with exclusivity to the property for the agreed term.

Let Property Protection Policy

Due to the rigorous pre checks that we carry out on all listings, our Let Property Protection Policy covers the key facts about the property to be true and accurate along with ensuring that you receive all of the necessary compliance documentation to legally validate the tenancy before the date of settlement. Within our guarantee we cover the buyer specifically for:

1 - Monthly rental income accuracy that the tenant agrees to pay on the property at the point of legal completion.

2 - The service charge on the property provided to you is accurate.

3 - The tenure of the property, whether Leasehold, Freehold or Commonhold is accurate.

4 - If there is a ground rent and/or lease length for a leasehold or commonhold property, we guarantee their accuracy.

5 - We guarantee that you will receive a valid tenancy agreement when your solicitor requests it in completion.

6 - We guarantee to provide valid compliance documents as follows: EPC, EICR and Gas Safety on the property when your solicitor requests them in completion.

Our Pre-Checks and Investment Standards

Let Property has incurred all of the up front costs to pre check and approve all of the investment properties that we list on our marketplace. All properties listed by Let Property go through rigorous pre checks to ensure that the properties we list are investment grade. Let Property rejects 60% of the properties that are brought to us by sellers and many of the properties that do not fit our tight compliance process are sent to our partner auction house. You can view our full list of our pre-checks at letproperty.co.uk/pre-checks. Examples of our pre-checks are as follows: Payment History & Current Rent Verification, Valid Tenancy Agreement Verification, Professional Condition Check, Property Photography Taken By Let Property, Seller Ownership Verification, Basic Mortgageability Assessment, Heating System Check and many more…

First Come, First Serve

The Buyers Premium acts as a reservation fee for the stated property. With this, all of our properties are available on a first come, first serve basis, meaning that there are no closing dates or bidding wars with any of our properties that we sell. When the Buyers Premium has been paid, the property is instantly reserved by yourself at the verbally agreed price. That means, that even if someone comes in with a higher offer - we legally can’t take that offer as you have already secured the property.

Assigned Completion Agent

You will be given access to an assigned Completion Agent shortly after your payment has been confirmed. Whilst it is your responsibility to ensure the property completes within the agreed term through your solicitor, our completion agent will help to facilitate a smooth completion process and be available to answer any questions that you may have. If you need us to introduce you to a solicitor or mortgage advisor during the completion process you can access a range of Let Property Approved partners at letproperty.co.uk/partners. Our completions team will also remain in contact with you during the completion process in order to ensure that the process is moving smoothly. This service is provided as part of the sale at no additional cost.

After Sale Management Lettings Consultation

You can access a Lettings Consultation Call from a qualified MARLA Letting Agent through Let Property Management where you can ask property management and compliance related questions. Let Property Management can also fully manage the property on your behalf, after completion, if applicable. You can discuss fees with them and we offer a range of services to make it easier for buyers to have their property managed post purchase if this is a service you wish to access.

Let Property is registered with The Property Ombudsman and our buyer fees fall in line with guidance set out in Section 5o of The Property Ombudsman (Scotland) Agent Code of Practice available here:

https://www.tpos.co.uk/images/documents/Codes/TPOE36-3_Code_of_Practice_for_Residential_Estate_Agents_in_Scotland_-_Effective_1_June_2019.pdf

1 . The Seller withdraws from sale:

The full amount of the Buyers Premium is refundable if the seller no longer wishes to proceed with the sale. If the seller legally withdraws from the sale, you must inform Let Property via email in accordance with our complaints handling procedure and provide at least 28 working days for a resolution to see if the seller wishes to continue with the sale - the seller may in some cases come back into the sale. If the seller does not proceed after Let Property has made its efforts, confirmation must be provided by the buyers solicitor in order to receive a refund.

2. Let Property Protection Policy:

The full amount of the Buyers Premium is refundable if anything explicitly described in the Let Property Protection Policy (described above) was materially inaccurate. Let Property transparently provides all information to buyers up front and the protection policy covers you for its accuracy in accordance to the terms described below.

The figures and details provided within the official Investment Pack and property listing on Let Property’s website form part of the contractual information covered by the Let Property Protection Policy. Any figures or representations provided via email, phone, SMS, or any other informal correspondence are for guidance only and do not override the official documentation. In the event of any discrepancy, the figures stated in the official pack or listing shall prevail. Written evidence of any inaccuracies must be provided by the buyer. All figures within the protection policy have a 10% or £30 absolute buffer, whichever is greatest, to account for minor discrepancies of any figures provided to you.

If documentation is required during the completion process, the buyer must notify Let Property in writing via email in accordance with our complaints handling procedure and allow up to 28 working days for Let Property to rectify the issue.

3. Information Provided:

By proceeding with payment, the buyer confirms that they have carried out their due diligence and that they are satisfied with the pre-checks provided by Let Property and accepts the documents as they are provided.

Let Property provides all documentation in good faith, carries out their pre checks and believes all documentation to be true and accurate. Where any information provided is marked as tbc or na, it means the information was not yet available and does not fall under our guarantee unless confirmed. The buyer acknowledges that the format, length, issuing provider, or specific content of these documents may vary and are not guaranteed to match any personal preferences, templates, or expectations beyond what is required by law. Let Property does not warrant that documentation will align with lender or insurance-specific requirements, only that they meet general legal standards. Minor discrepancies or formatting differences that do not affect the validity or legal standing of the document do not constitute grounds for refund. 

The buyer agrees not to communicate with the tenant and/or seller or visit the property without consulting Let Property at any point after they have paid the buyers premium and prior to the completion of the sale. The buyer should make contact with their solicitor or Let Property to progress the sale. The buyer can instruct a surveyor on behalf of their lender if necessary. Let Property can arrange for access to the property on behalf of the buyer for the purposes of a survey at any point during the completion process. If the buyer makes any form of contact with the seller or tenant this may result in cancellation of the agreement and forfeiture of the Buyers Premium.

4. Final Terms:

Refunds or Purchasing Credits for any other reason not listed above will only be considered in exceptional circumstances and are not guaranteed. Any such decision will be made in accordance with our complaints policy and relevant consumer law. Let Property does not cover for anything else outside of the specifics in the Let Property Protection Policy or the Seller withdrawing from sale terms.

Let Property’s liability is limited to the value of the Buyers Premium invoice total. We accept no responsibility for any additional costs or losses incurred in connection with the property purchase, including but not limited to legal fees, surveyor fees, or any direct or indirect losses. This limitation of liability applies even in circumstances where Let Property may have been at fault.

Let Property begins work immediately upon receipt of this agreement. The buyer understands that from this point forward, the terms of the Buyer’s Premium apply and that the agreement becomes binding and subject to the refund conditions outlined herein once work has commenced.

If a buyer's premium is credited or refunded and the buyer (or any party connected to the buyer) subsequently proceeds to purchase the same property (either directly or indirectly) a re-engagement fee of £8,000 becomes due to Let Property. This fee reflects the administrative time, internal resources and seller side losses incurred by Let Property as a result of the buyer withdrawing and later re-engaging in the transaction. If the buyer pays this fee within 5 working days then this fee is reduced to a fixed fee of £4,000. This charge reflects administrative and commercial costs incurred as a result of the buyer re-engaging in the transaction. This Re-Engagement Fee is separate from any legal or recovery costs that may arise.

This Agreement is governed by the laws of Scotland. Any matters arising in connection with it will be handled under the exclusive jurisdiction of Scotland.

You agree to follow our formal complaints handling process at letproperty.co.uk/complaints-process and you can contact us on hello@letproperty.co.uk.

Last Updated: 8th August 2025