New Inspection-Warranty Product Protects Foreclosure Buyers

New Inspection-Warranty Product Protects Foreclosure Buyers
Buyers Protection Group, LLC, (BPG) recently launched a “buyer’s bundle” that provides protection and savings for those who purchase bank-owned, foreclosure, or short-sell properties.



The bundle combines the benefits of a professional home inspection with a 12-month home warranty. BPG, which maintains dual headquarters in Georgia and California, provides services to help real estate professionals, buyers, and sellers in real estate transactions.

“Vacant or distressed properties can be a great value,” said Revell Fraser, BPG president and CEO. “However, our data indicate these properties can pose unique challenges to
homebuyers – further highlighting the need for a professional inspection and extended home warranty.”

The buyer’s bundle, which is offered in most major markets, provides a detailed report of a property’s condition, a 90-day guarantee on major items inspected, a 12-month home warranty, and $100 in savings. Flex-pay options are available for the home warranty.

BPG provides home inspections and home warranties in 14 states, including 25 major housing markets. The company uses data generated from inspections to determine common problem characteristics by property types. Approximately 60 percent of the 83,000 transactions handled over the past year by BPG involved vacant properties.

“[The buyer’s bundle is] a smart choice for consumers buying bank-owned or short-sell properties,” said Pat Schaffhauser, who heads the company’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,” Schaffhauser explained. “The warranty also provides coverage for unknown pre-existing conditions, which is especially attractive on vacant properties.”

Wow, this article says it all & Austin is THE place to buy a home.

Five Smart Reasons to Buy a Home Now
RISMEDIA, July 30, 2010--The economy is stabilizing. Home prices are holding. It's not just as good a time as ever to buy a house. It's one of the best times ever.

ForSaleByOwner.com presents five overlooked reasons why now is a great time to buy a house.

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system – and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines...again. Now that appraisers have more flexibility to set values that reflect the current market, today's deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by "workforce housing" programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.