Why Should I Offer The Buyer A One Year Home Warranty?
A One Year Home Warranty is something a seller can offer a buyer with the purchase of their house. The warranty can either be started when the house is placed on the market and continue for one year when the house is sold to a buyer or it can be started the day of settlement strictly for the buyer for one year.
It is usually paid for at the time of settlement depending on the terms of the particular warranty company and there are various prices depending on the size of the house and the options chosen by the seller. Terms vary on plans.
We as real estate agents prefer to see a Home Warranty as part of every transaction and started when the house is listed. Of course this is not always what happens, but we have seen and heard of too many situations where a house is listed and just before settlement something breaks or leaks and between the Home Warranty and the homeowner’s insurance the damage and replacement of broken items are covered.
We’ve had a few situations where the buyers of our sellers’ houses were doing their final walk through before settlement and in one case water was found in the basement from a sewer line and in another case damage from a dishwasher was found in a condo unit below reported to the buyer’s agent as they were parting the final walk through. In both cases the Home Warranty that was already in place saved the day.
We always recommend that a seller offer a Home Warranty to the buyer of their house for it is a means of setting their house apart from other similar houses for sale in their neighborhood, but mainly, we recommend that the seller purchase a Home Warranty for a buyer in order to give the new home owner peace of mind for the first year that they own their new home.
Please note Home Warranties can often be extended by the new homeowners; they do not have to be just for one year.
Why Should I Offer The Buyer A One Year Home Warranty?
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Doug Durren and Gloria Todor, Realtors®, SRES®
CENTURY 21 ABSOLUTE REALTY
512 Baltimore Pike, Springfield, PA 19064
GloriaTodor@Century21.com (EMAIL LINK)
Gloria 484-431-3686
610-328-4300 x131 Office
Serving Delaware County, Montgomery County, Chester County, Pennsylvania & Surrounding Areas
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