We've recieved the letter from The Office Of Fair Trading regarding new regulation for quick house sale companies.
You can download the original letter here.
Overview Of Letter
The letter basically states that quick house sale companies and the sector as whole will need to comply with existing regulation.
Quick house sale companies must comply with the following regulation. . .
- Estate Agency Act 1979
- Money Laundering Regulations 2007
- The Unfair Terms In Consumer Contracts Regulations 1999
- Consumer Protection From Unfair Trading Regulations 2008
So it's worth doing some background research into any quick sale company that you may potentially use.
With the new regulation you should check that the company is registered with The Property Ombudsman Scheme.
We're One Step Ahead
Since we started House Buy Fast, we've been registered with all these schemes and pushing for regulation with The Office Of Fair Trading.
I think that deserves a pat on the back and everyone here at House Buy Fast wants to thank The Office Of Fair Trading.
You should also check out their Q&A area on quick house sale companies here.