A Warranty for your home?
Yes, it’s true! They are called Home Warranties. When buying your home make sure it comes with a Home Warranty. If you have a good Buyers Agent (Like me :-)) you can have the warranty included it in the purchase and sale agreement.
A Home Warranty covers most of the major components of your new home taking a lot of worry out of this big financial step. A typical Home Warranty covers everything from plumbing, to electric; appliances, heating and air conditioning and even roofs. Some warranties will even cover pre-existing conditions and improvements made without permits.
Each warranty is a little different so it is important to know exactly what is included and more importantly, what is not.
All-in-all a Home Warranty is worth every penny of their $400-$600 if only for the peace of mind they offer.
How a Home Warranty Generally works:
If a home system or appliance breaks down or stops working, you call the home warranty company.
Your home warranty company will call a service provider it has a business arrangement with.
The service provider will call you to make an appointment.
The service provider will fix the problem. If an appliance or system is malfunctioning and can’t be repaired, depending on your contract coverage, your home warranty company will pay to replace and install the appliance.
You will pay a small trade service fee (usually $100 - $150). Be sure to find out what is not covered and what will deny a claim.
As with most Real Estate related items, it is very important to have an experienced Realtor on your side.