SELLER AND BUYER TIP: Home Warranties

Should I offer a Home Warranty when selling my house? Should I ask for a Home Warranty when making an offer? In my opinion, both of these questions should be answered with a resounding YES!

Let’s start with sellers on this one: With a home warranty, you are protecting yourself in many ways, not only protecting the buyer from additional costs if an appliance breaks something. First of all, usually, you are covered while your home is listed, if you have a home warranty in place. Let’s say you come home and the freezer is dripping because it has stopped working and everything has melted. Eww. Well, with a home warranty, you would pay the $100 deductible and they would come out and fix it. If it can’t be fixed, they will replace it.

Protecting the seller from an unwated repair is just the beginning. Let’s pretend you sell your house and then the electricity in one room just won’t work. The inspector didn’t have a problem, and it worked during the buyer’s final walk-through, but once they move in, nada. The angry buyer contatcs YOU, and wants it fixed now! OR, they contact the home warranty company who arranges to have it fixed. Which do you like better?

Most importantly, it is a fact that homes with warranties sell faster and for more money than homes without warranties. With most buyers asking for them, you might as well just have one in place from the beginning.

OK, Buyers, it’s your turn! For you, a home warranty can help provide peace of mind. Let’s say that the roof is 13 years old, and it is just a normal, average roof. The normal life of the roof is coming to an end, but it is still fine. Getting a home warranty and extra roof coverage will help cover you in case of leaks! If you notice a soggy spot after a rain storm, they will come out and either fix it or replace it for a $100 deductible. Calling the warranty company when you have a plumbing issue, a broken appliance, or need an electrical repair will be much easier than hunting down good contractors, plus, the deductible will be a huge money saver!

A few words of warning! Home warranties will usually NOT cover an item that has been treated badly, so keep your furnace and AC serviced every fall and spring. Warranties will also usually not cover something that was broken from the start. They only cover items that break after the warranty is in place.

If you have questions about the details of the home warranty that Carpenter uses, please feel free to contact me!

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