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March 22, 2021

what-is-a-cash-house-buyer

Having made the decision to sell your house to a cash house buyer, house sellers are faced with a minefield of choice on which company to choose. Given that the industry remains relatively unregulated it can leave property sellers vulnerable to unscrupulous operators.

With the recent increase and demand for cash house buying companies, the National Association of Property Buyers (NAPB), was formed in 2013 in alignment with the Property Ombudsman (TPO) to create a Code of Practice and guidelines to raise the standards within the industry.

It is always reassuring to know that a company is aligned with a professional body as this tells you that the company is a member of an organisation that represents a profession, often to a set of standards for professional practice. It also illustrates to the public that this company is serious about their business and likely to follow a code of practice in how they carry out their business.  Additionally reassuring to members of the public it allows people recourse when things go wrong and also gives people peace of mind when needing advice, guidance and making a decision on which company to pick to sell their house.

Membership is voluntary however all members of the National Association of Property Buyers are required to register with The Property Ombudsman to ensure:

  • All National Association of Property Buyers members follow the same professional standards outlined in The Property Ombudsman’s Code of Practice
  • Property sellers are treated fairly and are able to make an informed choice about how to sell their home
  • Property sellers can access a free route to independent redress in the event of a dispute

There is a wealth of information available on the National Association of Property Buyers website which covers every aspect of selling your property.  So before you dip you toe in the water we recommend that you read the comprehensive information provided on ‘How to Sell your Property without Estate Agents’.  It clearly and impartially lays out the pros and cons of selling your property with or without an estate agent.  It helps house sellers focus on what their priorities are – particularly on time and money.  Touching on the time it takes to sell your property through an agent and securing a mortgage to how the process of selling to a cash house buyer is faster and less complicated.  For some property sellers, the idea of bringing their house up to a standard to sell through an estate agent is daunting and costly.  Disappointment at the overly inflated prices that agents will tell property sellers their house is worth only to find that it lingers on the market for months on end and then potentially faced with buyers who back out of the purchase because their mortgage has fallen through, they are in an unproceedable chain or a number of other factors out of their control such as family illness.  If time is of the essence, then a cash house buyer can be a great way to avoid the highs and lows of selling through an estate agent.

Reading the suggestions and advice in the National Association of Property Buyers’ article will give you the information you need to make an informed decision right for you.  There is also a PDF version of the Code of Practice that you can read.

 

Halo House Buyers are proud to be a member of the NAPB and adhere to the Property Ombudsman’s code of practice.  Details can be found on the NAPB website.

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