Who Are the National Association of Property Buyers?
“Only use National Association of Property Buyers members in The Property Ombudsman scheme” – Graham Norwood (Property Journalist), The Sunday Times (5th March 2017)
Many clients come across us through our membership of the National Association of Property Buyers (NAPB).
Set up in January 2014 as a ‘not for profit entity’, the trade body groups together leading private buying companies across the UK.
The aim is to create more transparency and improve standards in an industry that frequently attracts bad press.
We became a member in 2016 as we felt their work aligned with our own code of practice and ethics.
NAPB members must become part of The Property Ombudsman (TPOS) redress scheme. With such protection never existing before, there is a now an obligation to adhere to a strict Code of Practice. This means that if there is anything that if you are uncomfortable with or you feel under too much pressure, there is a place to turn to.
Membership of the NAPB is open only to companies that buy directly themselves so homeowners know exactly who they are selling to. All members must ensure that you receive fair treatment throughout the process.
You must be given the full facts to make clear decisions. For example, if you contact us to discuss a fast sale, we’ll run through all of your options.
Some of the first questions we ask include:
- Have you thought about a drop in your asking price to attract more interest?
- Would swapping to a more proactive estate agent be a good idea?
- Have you considered using an online estate agency?
- Would swapping to an interest-only mortgage make sense?
- Perhaps you could rent out your property instead of selling?
Please see our recorded interview with Jonathan Rolande, founder of the NAPB:
How to Check a Fast House Sale Company
Today, there are many fast sales companies operating both online and offline.
Even though the industry has improved and you may be in a rush, make sure you do your research on the company. The following tips should help you on your way:
- Check the firm is registered with the Property Ombudsman (TPOS), Trading Standards and the National Association of Property Buyers (NAPB). Remember that, just because a company is a member of these bodies, does not always mean you should trust them;
- Better companies will also make sure you’re protected under Anti-Money Laundering regulations. Also, check that your contact details will not be divulged without your permission (the company should be registered at the Information Commissioner’s Office (for data protection);
- Go to the Companies House website and see if they are a legitimate operation. You can see how long they have been in business;
- Don’t feel shy in requesting a copy of the credit report on the individual or house buying company;
- Check the firm’s most recent reviews on sites like Trust Pilot, Reviews.co.uk, Feefo, Reevoo, All Agents and Rater Agent. The firm should also have a Google My Business page and active social media profiles (Facebook, Twitter and LinkedIn are the most common);
- Cross-reference any valuations you’re given against Land Registry data. The main free tools include: Net House Prices, Mouseprice, Property Price Advice and Our Property. Rightmove and Zoopla also show sold house prices on their listings;
- Beware of sleazy sales tactics and trust your gut instincts.
A Fast House Sale on Your Terms
Once of the advantages of using a fast sale company is that the process is much faster than using an estate agent.
If you have a specific deadline that you need to work to, make sure you run through the following before agreeing with the sale:
- Check that the company has cash funds available to buy your house. Ask for proof via a bank statement or a formal letter from their solicitor;
- Should the firm state that it will be using an ‘undrawn debt facility’, check the terms with the solicitor. If they are using a mortgage company, the process will almost certainly get delayed;
- If the firm states it can exchange and complete in 7 days, hold them to that proposal;
- Check the solicitor’s name against the Law Society register;
- If you have received a ‘subject to survey’ offer, ensure you will be given enough time to seek other offers if you’re not happy with the final price;
- If the price is dropped within 48 hours of exchange, contact the Property Ombudsman immediately on 01722 333306;
- More quick sale firms are offering cash advances these days. If you need to move forward with this, make sure you check the terms with your solicitor;
- Check there are no charges/fees or unfair contractual terms. You should be given a standard contract of exchange to transfer title (TR1);
- Never sign an of exclusivity, ‘lock in’ or option agreement without seeking legal advice;
- The better firms will guarantee the sale and go out of their way to ensure there are no hold-ups.
Sell Your House Fast Through Property Solvers
Established in 2006, Property Solvers are a team of quick house sale experts that now offer specific solutions depending on our client’s specific circumstances.
Property Solvers would be happy to have a no-obligation chat about how we operate as professional cash buyers. As any decent fast company should do, we will always start with a discussion about your real options. More often than not we find that there is a very simple solution.
If you decide to move forward with us, we will need to engage in some very quick research before making a preliminary offer over the phone. If you agree in principle, we will then organise a viewing and confirm everything with you. Our solicitors can also forward a legally-binding letter confirming that the price will not be dropped at the last minute.
Following this, and depending on your own circumstances, we can exchange and complete whenever you need. This can occur in as little as 7 days. We can also offer a cash advance, should you require it.
Perhaps the only downside of using our Quick House Sale service is that we pay up to 75% of the market value. After dealing with 1,000’s of homeowners over the years, we developed a unique express estate agency service to help you get a quick sale without taking a discount.
We employ a ‘realistic pricing model’ to sell. This helps us generate a secure offer on your property in under 28 days at the full market value. Below are some of the key benefits of using this service:
- We actively market your property on all the major property portals – including Rightmove, Zoopla and Prime Location;
- Floorplans and professional photos of your property;
- ‘For Sale’ board in front of your property;
- 24/7 freephone line/chat service so we don’t miss any enquiries;
- Accompanied viewings (including evenings and weekends)
- Complete sales progression;
- No sale, no fee;
- No tie-ins on the contract – if we do not generate an offer within 28 days you can leave and pay nothing.
For more information, please fill in our enquiry form, use our chat service or call us anytime on 0800 044 3733.