If you're a home buyer, a home warranty gives you a bit of peace knowing that a faulty dishwasher or ailing furnace will be taken care of under your home warranty. However, home warranties may apply to an assortment of repairs, but coverage depends on the home warranty purchased. Generally speaking, less expensive home warranties will cover fewer repairs, but some easy online research can inform you of home warranty companies in your area and what services they offer.
If you're a home seller, a home warranty can sweeten the deal for your potential buyer and make them more confidant moving forward with a sale. Home warranties are often purchased by the seller as a small insurance policy on appliances and other mechanical systems in their home. However, buyers also have the option of purchasing a home warranties and in some cases, your Realtor will purchase the home warranty.
For instance, I recently split the cost of a home warranty with another broker to keep the closing process moving smoothly along. For a few hundred dollars, a home warranty can greatly alleviate a buyer's worries moving into a new home. Thus it's to the benefit of the seller, myself as the Realtor and any other parties involved to invest in a home warranty and insure that any unexpected replacements are paid for in advance. At times, the "who pays for the home warranty," dilemma can get a bit heated, but it's genuinely a minor issue that should can be resolved quickly and inexpensively.
If you would like to know more about home warranties, are thinking of buying or selling your home or have other real estate related questions, visit me at MyRealtorRob. As an East Lansing Realtor, I specialiaze in the sale and purchase of property in the East Lansing and Greater Lansing areas of Michigan.
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