The Property Redress Scheme is authorised by the Department for Communities and Local Government to offer redress to Lettings and Property Management Agents and the National Trading Standards Estate Agency Team (formally the OFT) to offer redress to Estate Agents.
The Property Redress Scheme is a new, straightforward and easy to use consumer redress (ombudsman) scheme for Property Agents and Professionals.
The main purposes of the Property Redress Scheme are to allow Agents to comply with their legal requirement to be a member of a government authorised consumer redress scheme and to settle or resolve complaints made by consumers against our Members.
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The National Association of Property Buyers (NAPB) was founded in 2013 in response to to the growth in popularity of Quick House Sales companies.
Quick house sales companies differ from estate agencies because they enable members of the public to sell their properties fast by buying them directly or brokering a deal with a property developer – i.e. without promoting them to the public or having to wait for someone to make an offer. Quick house sales companies that buy property directly must have significant funds available to make an instant purchase.
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The Office Of Fair Trading reported “Quick house sales can be beneficial to home sellers who want a quick, guaranteed and hassle-free sale. Our study has shown this to be a dynamic and innovative sector where some businesses have modified their business models to try to offer a better service to home sellers.“
The Office Of Fair Trading, Quick House Sales Market Study, 2013, http://webarchive.nationalarchives.gov.uk/20140402173245/http://oft.gov.uk/shared_oft/market-studies/oft1499.pdf
Continue reading Quick House Sales – Good Practice Regulations