You Need A Home Warranty
Posted by Richard on November 6, 2019
I have a potential buyer for my house but the buyer wants some guarantees on the appliances. How can I give him peace of mind without exposing myself to all sorts of claims after the sale of the house?
You need home warranty insurance.
Considering what a home warranty plan costs, and the many things it covers, it can be a very good investment for a seller.
For the buyer, it offers peace of mind for their purchase. After all, a buyer might be feeling the pinch right after he buys a house and is in no mood to replace the refrigerator or work on the air conditioning system.
Buyers sometimes come back to the seller and ask that the seller make good on his promise that the air conditioning or refrigerator are in working order. A major appliance that suddenly quits after the sale isn’t a very happy situation for the well-meaning seller or the cash-strapped buyer.
Home warranty plans cost between $350 and $600 for the first year, with an option to renew at a higher cost the second year. The policy will carry a deductible that the new homeowner must pay. Typically, that deductible is from $50 to $150 and will apply to a service call.
Home warranties usually cover built-in appliances such as stoves, dishwashers and garbage disposals, but may also cover a refrigerator or washer. The home warranty will cost more if you want to insure a pool, but will probably be worth it.