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Rainmaker
2,971,618
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I carry a home warranty on my house and last year my $500 warranty bill saved me over $4,000 in repair expensese, including installation of a new HVAC for my second floor which cost me my $100 deductible. They've been life savers for many of my clients and our daughter, as well. Just know what company you are working with.

Feb 20, 2016 08:59 PM
Rainmaker
729,375
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

They ( HMS) have done what they've said they would do more than once. They replaced a HVAC unit for one of my sellers in Ashburn for total cost of around $225.00 one year. Good thing, because seller was low on funds, lost job, and couldn't have afforded to have it replaced.

Feb 20, 2016 08:43 PM
Rainmaker
1,024,052
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

No Peter, but it gives the buyers a piece of mind..

Feb 20, 2016 11:35 PM
Rainmaker
3,049,771
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

We rely on Old Republic!

Feb 20, 2016 11:33 PM
Rainmaker
3,164,988
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Some of my buyers have made out quite well with ther warranty!

Feb 20, 2016 09:39 PM
Rainmaker
3,762,741
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Many of my buyers have utilized many claims on their warranty that the seller paid for their first year of owning a home. They have continued to renew because of the items were repaired or replaced.

Feb 20, 2016 09:25 PM
Rainmaker
2,825,353
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

They work alright, it just all depends (cost wise) on who you decide to use... 

Feb 20, 2016 09:11 PM
Rainer
138,389
Chrissi Chapman Topoleski
Re/Max Real Estate Connections - Haymarket, VA
HOME~There is no place like it!

I sold a friend a house, dryer stopped working the first time he used it. Old Republic sent someone out and it was replaced.  

Feb 20, 2016 09:04 PM
Rainmaker
4,019,713
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

A few buyers have asked for them.  One buyer had to use them, but the warranty company would try to fix, not replace, and eventually, they would do nothing to replace it.   

Feb 22, 2016 01:53 AM
Ambassador
2,758,460
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Most home warranties aren't worth the fine print.

Feb 21, 2016 05:35 PM
Rainmaker
1,477,456
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Yes, we bought a house with poor yet still working A/C and since we got 100+F those days, all companies were very busy. AHS just refused to repair, so we dropped them immediately.  My clients told me similar stories, if is is an expensive item, even after years of paying warranty, they just drop you. 

Feb 21, 2016 04:12 PM
Ambassador
4,054,019
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Not a fan of any of them.

Feb 21, 2016 03:49 PM
Ambassador
4,298,221
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Peter Mohylsky - I usually recommend it to my buyers.

A buyer of 3-year old home had issue with the 'computer chip' in the furnace within couple of months of buying a home. And they saved more than $1,500, just by going for the warranty, as recommended.

And few weeks back, a buyer got brand new water heater - since it could not be fixed. Saved about $1,000!

I have many more stories like this...

Feb 21, 2016 01:38 PM
Ambassador
2,188,589
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

My story happened years ago. It was a bank owned house where the bank, as the seller, offered the warranty. My buyers refused the inspection. There was a plumbing issue in a bathroom. Don't know what caused it. The warranty company paid up. 

Feb 21, 2016 12:12 PM
Rainmaker
1,210,414
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I have them on four homes.  I've gotten new heaters, new plumbing, new commerical grade water heaters and circulating pumps, several new toilets, new kitchen fixtures and the list goes on and on. 

Feb 21, 2016 11:49 AM
Rainmaker
1,523,566
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I tried to convince a buyer to get a home warranty once and he refused saying they didn't pay very much.  I called him a couple of months after closing and he told me he had to buy a new HVVAC unit shortly after buying the house. I almost had to bite my tongue.

Feb 21, 2016 09:12 AM
Rainmaker
863,526
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Read the fine prints and ask around. Word of mouth is the best referral. Many home warranty companies overpromise and are out of business.

Feb 21, 2016 07:21 AM
Rainmaker
211,579
Joy Bender
Compass - La Jolla, CA
San Diego Partner - The Private Client Team

It's important for future potential litigation with some things that can go wrong in a house 

Feb 21, 2016 06:01 AM
Rainmaker
4,796,451
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I had one on my own home for a while.  I eventually dropped it because it was such a struggle getting them to cover their obligations and their preferred service providers were awful.

Feb 21, 2016 04:04 AM
Rainmaker
633,936
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

I see you have a good list of stories already, Peter. I'll add one that happened during an escrow. We put a home warranty - paid by seller - into the purchase contract to protect the buyer who would not be moving in until a few months after the closing. After closing but prior to the move-in date two problems arose and the warranty paid for itself 4 times over. Definitely worth the price!

Feb 21, 2016 02:13 AM
Rainmaker
534,100
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

Peter Mohylsky the best reason to have a home warranty is to have another layer of protection against being sued.  It won't guarantee it but could help for many home condition lawsuits such as A/C Heater, Electrical and Plumbing.  Since the seller pays for it in most cases, it's cheap insurance for us.

Feb 21, 2016 02:09 AM
Ambassador
3,042,087
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Just piece of mind. I did have a $20k furnace replaced for a mere $75 service call. 

Feb 21, 2016 01:22 AM
Rainmaker
3,063,681
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I normanally recommend them and yes,  I have had a stove fix and a furance replace in the last year for clients

 

Feb 21, 2016 12:41 AM
Rainmaker
277,338
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

I have had many previous Buyers & Sellers who have thanked me for recommending and on and it has paid off on big ticket items in some cases. I recommend them as a piece of mind insurance policy for resales.

Feb 21, 2016 12:34 AM
Rainmaker
1,157,264
FN LN
Toronto, ON

One well known local lawyer recommends them and has provided several useful anecdotes over the years.

Feb 21, 2016 12:29 AM
Rainer
43,781
Stephanie & John Webb
Latte Stone Realty LLC - Albuquerque, NM
Stephanie Webb Co-Owner, Latte Stone Realty, LLC

The last I heard from one of my clients is she called to have someone come out to look at the water heater. She paid $65 and they repaired it. The negative she said was it took 2 days for the appointment.

Feb 20, 2016 11:23 PM
Rainmaker
1,817,056
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

A Buyer Agent needs to advocate this to leave a Post Settlement Solution for all of the Economic UNKNOWS !

Feb 20, 2016 11:22 PM
Rainmaker
679,914
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

The biggest issue with home warranties is the quality of vendors they use. Really good vendors do not want to go through the bureaucracy of authorizations, so often times you end up with bad ones. I personally believe in home warranties and they are a money saver when systems fail. I also have fired 3 home warranty companies for my own home and I'm threatening to fire the 4th. :)

Feb 20, 2016 11:04 PM
Rainmaker
1,521,006
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We have had them in the past with our homes and have benefitted in having them. The unfortunate issue however, is when you attempt to renew, often the second year premium is utterly rediculous, so then switch to a competitor with the knowledge that there is generally a waiting period before any benefits kick in.

Feb 20, 2016 10:53 PM
Rainmaker
4,431,972
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I had a listing where the water  heater leaked on day of closing. The warranty company replaced it .We had postponed closing to later in the day until it was replaced.

Feb 20, 2016 10:42 PM
Ambassador
3,912,931
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

My clients experiences have been positive from what I have been told with 1 exception

Feb 20, 2016 10:31 PM
Rainmaker
1,206,277
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Peace of mind for both buyer & seller. However, keep in mind the warranty does not cover previous defects.

Feb 20, 2016 10:30 PM
Rainmaker
1,366,727
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Peter Mohylsky I've had clients use the 2-10 Home Warranty with success. Every time a homeowner used the warranty 2-10 would send a post card to the agent. Got quite a few post cards from satisfied clients.

Feb 20, 2016 10:14 PM
Ambassador
3,981,938
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Yes they work and I get a report when the warranty company pays a claim. This gives me a great opportunity to call my client and make another connection. They always say they are glad they have it.

Feb 20, 2016 10:07 PM
Rainmaker
79,943
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

Home Warranties work fine.  You can usually get service within 24 hours.  They fix or replace the item that is not working.  Some have cost limits, but they have negotiated better prices with repair companies. 

Feb 20, 2016 09:53 PM
Rainmaker
1,504,625
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Yes they are worthwhile. I haven't had any problems with the company that I use which is Globe.

Feb 20, 2016 09:48 PM
Rainmaker
561,561
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

We had a very good experience with American Home Shield. I would certainly recommend them as a home warranty provider.

Feb 20, 2016 09:45 PM