WHAT IS A HOME WARRANTY?
A home warranty offers protection at an affordable cost. A home warranty protects the owner against financial setbacks due to costly repair or replacement of covered appliances and major systems due to normal wear and tear during the warranty period. This coverage does not include pre-existing conditions, such as rust. With so many unknowns, a home warranty gives peace-of-mind, assuring that there is someone there to help with a problem on covered items.
A home warranty makes the repair process easy. The home warranty company makes the call to arrange for a licensed and insured contractor to take care of the problem , and a small deductible is paid. The claim procedure is started by calling the home warranty company.
THE BENEFITS TO THE SELLER WHEN OFFERING THE BUYER A HOME WARRANTY:
A gallop poll reveals that 79% of both sellers and buyers rate home warranties as one of the most important considerations when selling or buying a home behind location, design and financing options. Some benefits include:
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Offers competitive advantage over homes without a warranty
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Homes sell faster- up to 15%
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Homes sell for more- up to 2.2%
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Risk reduction should problems occur
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Causes reluctant buyers to take action
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Reduces possible post-sale conflict between sellers and buyers
Buyer(s) coverage begins at the close of sale and continues for one year from that date. Payment is due at close of sale and must be received by the Service within ten (10) working days after close of sale in order for coverage to be in force.
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