Benefits of Home Warranties
A home warranty is a year long contract that covers repairs of major systems and appliances to the new home buyer starting at the close of escrow. It’s nice to know that when the water heater or air conditioner or stove or other item quits working the week after you move in, the repairs or replacement will be covered if you have purchased a home warranty! Home warranties can cover single family homes, multi -family homes, condos and townhomes, vacation homes, rental properties, and foreclosed properties.
A new home is a major investment in your family and future. A home protection plan provides reassurance that you are safeguarding that investment.
Benefits to buyers include:
- Relief from the expenses of unexpected breakdowns on covered items
- Flexible, affordable and customized plans
- Network of service providers
- Worry less and live more!
Having a home protection plan in place when selling your home is a great insurance policy against costly repairs. It can also boost a buyer’s confidence knowing that if your home is their choice that it will be covered under the warranty.
Benefits to sellers:
- May help discourage downward price negotiation
- Can help distinguish your property from other listings
- Can help boost buyer confidence
- Can help reduce your liability in post-sale issues
All in all a home warranty makes good sense for buyers and sellers. Be sure to ask your Realtor about it!