Buyers Protection Group to buy LandAmerica Home Warranty
Buyers Protection Group, Inc. an Atlanta-based real estate services firm, has completed its acquisition of home warranty and home inspection services business from from LandAmerica Financial Group, Inc. LandAmerica provided home warranty services in 30 states and recently filed for bankruptcy in November 2008, primarily due to problems in its title insurance and 1031 Exchange businesses..
Alpharetta, Ga.-based BPG said the deals give it home warranty operations in 30 states and home inspection services in 14 states. BPG will now have dual operations centers in Alpharetta and Burbank, Calif. The company has 280 employees and is expanding its sales force and adding home inspection professionals.
“Despite the financial struggles with LandAmerica and severe decline in the housing industry, the home warranty and inspection subsidiaries remained profitable,” said BPG President and CEO, Revell Fraser, in a statement. “We were doing well in a very difficult environment and our employees remained committed to the business, so it was a natural decision to pursue buying the companies.”
LandAmerica Home Warranty Company, founded in 1987, provides one-year home warranties with significant concentrations in AZ, CA, and TX. LandAmerica home warranty began investing in the home inspection business in 2001, and is now the nation’s largest employee-based residential and commercial inspection company.
BPG partnered with The Stephens Group, a family-owned investment firm, on the transaction. The Company was advised by Croft & Bender LLC and Miller & Martin PLLC.
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I strongly recommend you look elsewhere for warranty coverage. I made a claim on my residential air conditioner last Friday. BPG promised to have repair service contact me immediately. No contact on Friday, Saturday or Sunday. Made telephone contact w/BPG on Monday wherein I was informed no action taken due to failure to pay co-pay on prior claim made five months earlier. Why would BPG fail to notify me of an alleged failure to pay co-pay until I made a subsequent claim five months later? I disputed the failure to pay and provided a check number as proof of payment. BPG continued to refuse contract compliance until I informed them I was prepared to pay for service and file lawsuit in small claims court. When repairman arrived, he informed me BPG required him to obtain co-pay up front. BPG made one mistake after another after another.
I also recommend not using this company. I live in Shreveport, LA and purchased my house last year. I ordered my Home Warranty through LandAmerica Home Warranty (before they were purchased by BPG). On April 15 of this year, a need arose to file a claim on my policy. My claim was for my A/C Unit; as of April, it was already getting into the 80s here in north Louisiana and the unit was running constantly, and it wasn’t getting very cool in the house. BPG told me that they didn’t have any contractors in my area, so it would be OK for me to pick a company to come check it out. I called Service Experts;their verdict – freon leaks in the condenser and evaporater, and cracks in two of the cells of my furnace – the whole heating and cooling system needs to be replaced (it is 17 years old). BPG told me that they were requiring a 2nd opinion. Here we are, June 7, and they have yet to get another technician to “come tell me my system doesn’t need to be replaced.” Maybe I should do as Warren did above and ask them if me getting an attorney would help expedite things? I’ve been very cordial with them throughout this whole ordeal (offering to call another company for the 2nd opinion, etc.), but I feel they keep dragging this on. I told one representative that if for some reason my A/C system completely quit working, we were going to have a serious problem. This is absolutely ridiculous!
Chris…
You are not required to contact an attorney to make a claim in small claims court. Recommend you file the claim. BPG will be compelled to show in court unless they agree to comply or settle prior to court appearance. Good luck.
Warren,
They finally found someone to do the 2nd opinion two weeks ago. The guy pulls up to my house in a Ford Mustang carrying a freon tank and gauges…that’s it…competely unprofessional. He checked out the system and came up with the exact same verdict that Service Experts did – the whole A/C systems needs replacing, as well as the furnace, due to the cracked cells.
I just called BPG again yesterday since their guy came out two weeks ago (and I hadn’t heard from them), and the rep told me that BPG had been trying to contact the contractor to get the quote, etc. from him on the work. He didn’t even send it in to BPG? It doesn’t make sense! So, I told the guy at BPG to give me his e-mail and I would e-mail him a copy of the quote from their contractor. I told him how unprofessional their contractor was, and I suggested that they use Service Experts to do the work, and I would pay the additional balance since Service Experts’ quote was just a little higher.
When I e-mailed it in, I told them that I will give them one week to get me a check, so that I could take it to Service Experts, so the work can be done. July 15 will mark three months since I originally filed my claim via their internet site. Throughout this whole ordeal, they’ve made promises to “call me back” but never have, but ONCE to let me know that they couldn’t find any contractors within a 30 mile radius of my house. Every time, I have to always call them back, sit on hold, and talk to someone. Don’t EVER use their option for the system to hold your place in line and call you back, because they never will.
We’ll see what happens this week.
We are going to purchase a refrigerator. Is the BPG a reliable company from which to purchase a warranty?