If you want to save some money and help make your home more marketable, don’t forget to sign up for a home warranty when your Realtor lists your home. Your Realtor will be able to assist you in this process.
Some home warranty companies such as First American Home Warranty offer “FREE” seller coverage during the listing period. Payment of the home warranty occurs at closing, and if a listing never closes, there often isn’t any money collected. With First American, the only money a seller would be out of pocket during the listing period would be for the deductible for a service call.
Seller coverage is an upgrade and some features such as HVAC systems are considered optional coverage items that have additional costs. Once you have signed up for the warranty, you are covered during the listing period. If any covered item breaks down, simply call the warranty company and pay their service fee deductible. This is especially handy for covering home inspection items. First American charges a deductible per “trade” call meaning if there are several electrical items to be covered, there is only one deductible charged.
Home warranties are also a great way to have peace of mind and budget protection.
The cost of a home warranty varies by company and so do services so read the fine print carefully. In Richmond, Virginia First American starts as low as $365 for basic coverage with a $60 service call fee. There are upgrades to cover additional items such as HVAC for sellers and other items for buyers. Whichever warranty you purchase, make sure you understand the coverage you are getting.