The National Association Of Property Buyers (NAPB) was formed in 2013 after an investigation by the Office of Fair Trading identified a number of unscrupulous practices amongst some house-buying companies.
The OFT recommended that a self-regulating body be set up to monitor industry practices and keep everyone in check - and this become the NAPB.
Unfortunately for the UK consumer though, some of the companies who had the most to lose from regulation were some of the ones who helped found the NAPB... And effectively they stepped in and wrote many of their unscrupulous practices into the rule book. (For example "Option Agreements" are still widely used, and companies can reduce their offer with no real recourse).
Despite some of the NAPB's excellent work, in this respect it has been a missed opportunity, and a true tragedy for the home sellers who've continued to be exploited by some home-buying companies.
Unfortunately there are many home-buying companies who are less interested in providing a professional service for their sellers, and more interested in using underhand and unfair practices to simply make as much money as possible from them. Follow these steps when using a home-buying company.