When it comes to home buying, many sellers offer a "Home Buyer Home Warranty" included in the negotiated purchase of a home. In the event it's not included, home warranties are also available for purchase from the buying side.
Home buyer home warranties are basically a one-year contract, regardless of who pays, (the buyer or the seller) for a period of time, typically written for one year from the close of escrow. Most of them are usually renewable at the end of the initial period of time at the option of home buyers.
Like any contract/policy, it's important to know what's covered...and what's not, because not all policies are the same. Most policies cover most of the working components of a home, for example:
Normally included:
- Built-in appliances
- Plumbing
- Heating
- Air Conditioning
Optional items include:
- Roof coverage
- Pool/spa
- Refrigerator
- Washer & Dryer
- Fixtures
The items listed above are just a few things to consider when deciding on a home warranty for your sale/purchase. Your REALTOR can also provide you with information from the different companies that are available. The "customer service" side can also make a difference.
It's also critical to know policies DO NOT cover pre-existing conditions! Meaning if an item is referenced in the property inspection report as being in-operable/defective, do not expect coverage from the policy contract. It's similar to applying for health insurance with a "pre-existing" health issue.
So when you're looking for competent and knowledgeable real estate help, contact me: Lynda@PreferredHomeBrokers.com or (714) 595-1494 Text or Direct. As the Broker & Owner of Preferred Home Brokers, we've been successfully representing Southern California home buyers and sellers for 35+ years!
Check out our other 2-Minute Real Estate Videos and Subscribe!
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- Working With a CRS ~ A Certified Residential Specialist
- Short Sales ~ Do's & Don'ts of a Short Sale
- Probate & Estate Home Selling ~ When That Time Comes
- Offer Accepted? ~ What's Next?
- Home Selling 101 ~ 5 Things You Need to Know
- Home Buyer Disclosures & the Statewide Advisory
- Home Buying Know How in a Homeowner's Association
--CA Broker's Lic. Since 1976 ~ 00402040
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