Below is a list of some of the questions we are most frequently asked. If you have any further questions please contact us here.
What is the NAPB?
The NAPB stands for The National Association of Property Buyers. Set up in January 2014 as a ‘not for profit organisation’, The NAPB helps property sellers decide whether selling to a professional cash buyer is the right path for them and gives advice about possible benefits as well as potential disadvantages. Membership is open only to companies that buy directly themselves so property owners can be sure about exactly who they are selling to.
If I sell to a member am I protected?
The NAPB requires all members to sign up to The Property Ombudsman Code of Practice (COP) which ensures that companies follow the highest possible standards and, in the unlikely event of anything going wrong, will financially compensate via the Ombudsman’s redress scheme. You can find a copy of the Code of Practice here.
Is membership voluntary?
Yes membership is voluntary so you know that if you sell to a member you are dealing with a company committed to going above and beyond the minimum standard. A full list of current NAPB members can be found here.
Can you offer advice?
As a voluntary organisation we cannot give advice to sellers other than in general terms, such as this top tips guide. We help people to research the market for themselves and list members should they decide to sell to a property buying company. We always recommend that independent legal advice is sought before committing to a sale, paying a fee or signing anything.
How do I know if a buyer is a member of The NAPB?
A list of member firms can be found here. Members should display The NAPB logo on their website and stationery. If you believe you may have seen somebody claiming to be a member and they are not on our list of members, please get in touch with their details so that we can check.
What if I don’t want to use one of your members?
You are free to sell your property to whoever you wish – be it privately, via an estate agent, auction or to a professional buyer. Just bear in mind that a buyer who is not a member of The NAPB is unlikely to follow the high standards of The Property Ombudsman’s Code of Practice and so the sale and price will be far less secure than by selling to one of our members.
Should you choose to sell your property to a NAPB member, consumers will have peace of mind that they are dealing with a company that has agreed to follow a stringent set of professional standards outlined in the Code of Practice, with free access to an impartial and independent dispute resolution service in the event of a complaint arising.
What should I do if my buyer asks for a fee?
We suggest that you seek professional advice through a solicitor before handing over money to anybody. You can read a series of consumer tips for home owners thinking of selling their house quickly through a property buying agent here.
Do professional buyers use cash?
Yes, that is how they are able to complete a house purchase so quickly. Sometimes they complete a sale in just days. We suggest that you ask to see proof of funds before you agree a sale to be on the safe side.
How long does it take?
As we have many different members who work in their own ways, always check when you speak to them. Because they follow The Property Ombudsman’s Code of Practice you should always get a straight and honest answer.
What do others say?
The NAPB has featured in a number of news articles in print and online. See some of them here.