Here is something that many sellers view only as another expense. I recently sold a beautiful home built in 1925. Obviously this home is not new. Most buyers looking at a home in a historical or established area of any town understands homes of this age have flaws.
As a selling agent my job is to protect my seller. I had the sellers place a home warranty on the home that protects the seller from certain breakages and repairs with a minimal service fee for the repair call. The warranty also covers the buyer for more repairs than the seller. The warranty is one year from the date of purchase for the buyer. Some of the key elements of coverage are the furnace, hot water heater, air conditioning unit, plumbing and electrical including wiring, roof, appliances, garbage disposer and more. The warranty does not cover everything and each has slightly different coverages. So read the coverages and look at the claim clause to see what you have to do to get a claim processed.
This was a distinct advantage for my seller and a great feature for buyers for added protection to defray possible repair costs. During my sale of the home, while under a purchase contract, the hot water heater sprang a leak. The replacement cost paid by the sellers was $95.00 and the buyer received a new hot water heater. I just had a new 60 gallon hot water heater installed in my personal residence and the bill was $838.00 (as the plumber told me, hey we are hauling the old one away! Wow, I only wanted a hot water heater not stock in the company!) So I was very impressed with the $95.00 cost for a replacement.
A home warranty can be a very important selling feature to a buyer. If your home has a warranty and a similar home priced near your homes price does not have a warranty buyers are likely to look at your home first.
The cost is minimal, can be paid at close, yet have coverage while you are selling. I ask all my sellers to consider a home warranty as part of the marketing package. This is just one more way to entice buyers to your property first.
As a buyers agent I always ask the seller to provide a home warranty for my buyer clients. I am Just adding a bit more insurance coverage should a normal home repair become needed during the first year.
So remember, look at the home warranty as a marketing tool, not an additional expense that you are giving away. If a buyer buys because they came to your home first with a warranty you will never look at this tool as an expense again!
I hope this gives you a little insight into using as many marketing tools as possible to help you sell faster.
If you have any questions or comments please drop me an email.
Sincerely
Gary White
Associate Broker
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