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Home Warranty Advantages
Having a home warranty has advantages for the buyer, the seller, and the realtor. If you are considering buying or selling a home, or any other real estate property, you should read this article to learn the benefits of choosing a home warranty.
Advantages of the Home Warranty:
For a Seller - the home will usually sell faster and for a better price if a one year home warranty is offered. Also, most home warranty companies will provide coverage for the listing period (up to 6 months). Normally payment is not required until the closing of a sale. Upon a successful closing the home warranty company receives payment, and the Buyer enjoys the coverage for one year from the date of recording their deed.
For a Buyer - protects the budget from expenditures for unexpected repairs for one year from date of purchase. Buyer pays a small fee each time the company is called to make a repair; the company decides whether to repair or replace the item. If the seller does not include a home warranty in the price, buyers are wise to obtain this coverage at their own expense. If purchasing a home that has been previously lived in, this is a small price to pay for peace of mind. Some basic policies start at $300.00 year. Most policies can be renewed.
For the Realtor - all of us want happy clients - the home warranty protection helps make the sale and purchase of real estate easier for all parties and helps to soften the blow of an unexpected expense, whether during the listing period or after the sale closes. Sellers have enough on their plate getting the home ready to sell without the expense of a necessary repair. Buyers will tolerate a problem if they know they have insurance to help cover unforeseen costs of repairs that may arise.
Related Article: How to Sell Your Home Quick >>