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home warranties: Your offer has been accepted... So, now what? Part V (Home Warranties) - 01/31/10 09:29 AM
Your offer has been accepted... So, now what? Part V (Home Warranties)
Home Warranties.  What are they?  For approximately $400/year (for single family homes... less for condos/coops) you are covered (usually for a nominal service fee) in the event that one of your appliances or HVAC fails.  Some of the policies even cover roofing and/or swimming pools.  In theory, they either repair it or replace it.  As a new homeowner, already stretched by your new mortgage, this can be a real lifesaver.
Who pays for it?  Depends.  In these trying times some sellers will offer up a one-year home warranty as an enticement.  … (3 comments)

 
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