Posted by Carlos on June 29th, 2021

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Around a decade ago, the fast property buying industry was created to provide an alternative to open market sales. With their complicated and slow property chains, homebuying companies were able to provide a swifter and more secure solution for people looking to sell their home. While most of these businesses offered a reliable and professional service, there were a few which had questionable practices which somewhat tainted this emerging industry.

As a result, homeowners were unsure which property buyers they could trust, while reputable companies needed a way of distinguishing themselves apart from the rest. The answer to this issue came in form of the National Association of Property Buyers, or the NAPB for short.

What is the NAPB?

Founded in 2013, the NAPB is a group of independent professionals or companies committed to providing the highest possible standards in the property buying sector. All members follow a strict code of practice ensuring their service is transparent, professional and honest. So, if you do want a fast house sale, you can rest assured if you agree to let an NAPB buy your home. Additionally, only companies following the highest professional standards are allowed to be members, and these are the services championing secure house sales in their industry. As an extra layer of security, we also recommend working with an NAPB property buyer that is regulated by The Property Ombudsmen (TPO) too. Founded in 1990, this government approved scheme aims to solve disputes between homeowners and estate agents, acting independently. Its members must follow the TPO code of practice which has had a huge impact in improving the property sector since its implementation, which a strong focus on better the seller’s needs first. Incidentally, this code is the same that NAPB members must follow.

So, while the TPO raised the standards of the property market, the NAPB aims to establish a reputable and trustworthy market for fast property buyers and their clients. As an organisation they also position themselves as independent advisors for homeowners, stating “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.”

Do note that the TPO and NAPB are not regulators and do not have the power to take legal actions towards an agent or property buyer.

The NAPB code of practice

To provide a fair and secure framework which both house buyers and customers can rely on, the NAPB has a specific ‘code of practice’. It outlines the expectations from all its members in every aspect their service including advertising, offers, handling conflicts and exchanging contracts. We look at them in a bit more detail below:

General behaviour

  • Companies should provide a service consistent with fairness, integrity and best practice; and should not seek business by methods that are dishonest, deceitful, manipulative or involve misrepresentation.
  • Companies must keep clear and full written records of all transactions for a period of 6 years and produce them when required by the Ombudsman
  • Companies must offer suitable information to meet the client’s aims and needs.

Advertising

  • Advertising material should be in accordance with the Advertising Standards Authority’s (ASA) Codes and must be truthful.
  • Companies must not mislead about the price they are prepared to pay.

Offers

  • Companies must never deliberately misrepresent the value of a property
  • The offer price should not be reduced late in the process without a valid reason and these reasons should be fully explained to the client in writing.

Purchase

  • Companies must not transfer the purchase to a third party without your client’s permission
  • Companies must do everything within their power to ensure the client’s favoured sale dates are met
  • Companies must give your client written confirmation of any offer or amended offer for the property, along with details of the proposed timescales

3 key benefits of selling your home to an NAPB member

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Benefit 1

You can trust them

Being an NAPB member is the highest certification property buying companies can have to prove their professional service. With it, you can distinguish good from bad property buyers. Especially if this is your first time selling a home in this way, you know that you’re using a trustworthy company that is regulated and safe.

However, always check the NAPB’s website directly before contacting a company as proof of membership. There have been instances of businesses that display the NAPB logo on their website without being a member.

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Benefit 2

A transparent sale process

The code of practice described above is abided by all NAPB members, this means you can read through it and know what you are getting into before contacting a member. There’ll be no instances of misleading house valuations as all NAPB members use independent solicitors which will give an accurate valuation of the property. Nor will any NAPB member ever reduce the offered price at the last minute without a valid reason.

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Benefit 3

You are supported all the way

In the unlikely situation that you do not feel satisfied with a member and want to issue a complaint, it can be escalated to the TPO Compliance Committee, an independent and impartial service that will resolve the dispute, award you compensation when it is legitimate and sanction the negligent property buyer.

How do you know who is a member of the NAPB?

This is really simple; you can check the NAPB list of members here. These are companies that have joined the NAPB by their own will and comply with the TPO’s code of practice, putting the customer at the centre of what they do. Every year the list of members grows which is a really positive sign for the industry.

If you are looking for an NAPB member that has a proven record of excellent results and customer service, you are already in the right place. Why? Vivo Property Buyers are the best rated NAPB member on Trustpilot with 4.9 stars and over 100 reviews. You can see our reviews here

 

Is Vivo part of the NAPB?

Yes we are! Vivo is proudly part of both the NAPB and TPO and are committed to providing you with the best service when selling your home. Want to learn more about why you can trust us, find out below:

With Vivo you can sell your house in as little as 7 days, but knowing how stressful selling a house can be, we adapt to your time scales to make the process as smooth as possible.

We are available 24/7 and solve any sort of queries. Most people only sell a house once or twice in their lives, so it makes sense to feel nervous and have thousands of questions when beginning this journey. We have plenty of experience and are here to help you with our expertise. Feel free to give us a call whenever you want and ask us about anything that is in your mind, we will probably be able to give you good advice even if it doesn’t feel like an obvious “I am selling my house” question.

One of the challenges of selling a house in the UK is that nothing is confirmed until contracts are exchanged. This uncertainty dragged to the last minute can be a big source of stress. With Vivo, once you accept our formal offer everything is set in stone. So, you can feel at ease and focus on other important parts of your plan.

I needed to sell a house I owned quickly and used the National Association of Property Buyers (NAPB) website to find a legitimate firm. Jantiene and Rupert were informative, fair and professional at all times. I can't recommend them highly enough.

Cindy Stubbs

Trustpilot Review October 2020

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