Quick Growth in People Purchasing Homes with Cash
A rising number of people are choosing to sell their homes to professional cash buyers for a quick sale, according to the latest figures from the National Association of Property Buyers (NAPB).
Representing companies willing to offer an instant cash purchase on residential properties, the NAPB has revealed that its members purchased 2,718 homes between them in 2020 – a figure that had already grown by 7 per cent by the end of the first quarter of 2021.
National Association of Property Buyers ensures all its members register with The Property Ombudsman Code of Practice and adhere to its Code of Practice. By using a member of the NAPB or a company registered with TPOS, homeowners who are looking to sell their house quickly for cash can access both organisations if they have a concern or in the event of a dispute.
The strongest increases in enquiries over the first quarter of 2021 were from sellers in Birmingham and Derbyshire, which rose by 15 per cent and 12 per cent respectively.
The NAPB’s members include companies such as Property Solvers Ltd, House Buy Fast and Property Rescue Ltd, which offer to buy a residential property or to find a third-party buyer quickly. Members typically complete a purchase in an average of under 21 days from point of sale.
Ninety per cent of NAPB’s members expect to buy a higher number of properties on a quick sale basis by the end of 2021 compared to 2020.
The NAPB works closely with The Property Ombudsman to raise and uphold high standards in the property buying sector. Membership of the NAPB is on a voluntary basis and all members must sign up to The Property Ombudsman Code of Practice to ensure that consumers can expect a fair and transparent service.