BPG® Launches Inspection-Warranty Product for Foreclosures
Providing Savings and a Higher Level of Protection for Homebuyers in 14 States
BURBANK, Calif., May 24, 2011 - Buyers Protection Group, Inc ("BPG") has introduced a new "Buyer's Bundle" which combines the benefits of a professional home inspection with a 12-month home warranty. The bundle provides greater protection and savings for buyers of bank-owned, foreclosure, or short-sell properties.
BPG provides home inspections and home warranties in 14 states including 25 major housing markets. BPG uses data generated from their inspections to determine common problem characteristics by property types. Over the past year, approximately 60% of the 83,000 transactions handled by BPG involved vacant properties - resulting in BPG establishing specific protocols that exceed the normal standards of practice used by most home inspectors.
"Vacant or distressed properties can be a great value," said BPG President and CEO, Revell Fraser. "However, our data indicate these properties can pose unique challenges to homebuyers -- further highlighting the need for a professional inspection and extended home warranty."
Vacant properties are more likely to have problems with moisture intrusion and related mold issues due to lack of maintenance. Additionally, lack of regular use can cause degradation of plumbing and other mechanical equipment which, if not identified and corrected, could result in costly repairs or damage for future homeowners. The Buyers Bundle combines the enhanced BPG inspection protocols with a 12-month home warranty in order to provide homebuyers greater protection.
"It's a smart choice for consumers buying bank-owned or short-sell properties," says Pat Schaffhauser who heads BPG's product development group. "Buyers receive a more comprehensive understanding of the home's condition plus extended protection for major system or appliance failures - both from a single trusted advisor and with significant savings. The warranty also provides coverage for unknown pre-existing conditions, which is especially attractive on vacant properties."
BPG has been providing home warranties and home inspections for consumers involved in real estate transactions since 1987. The Buyers Bundle is offered in most major markets and provides a detailed report of the property's condition, a 90-day guarantee on major items inspected, a 12-month home warranty, and $100 in savings. Special flex-pay options are available for the home warranty.
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