Home warranty protection
A helpful negotiating tool:
A house or home warranty provides some protection from repair and replacement costs for things like major appliances, plumbing, electrical, heating and air-conditioning units and usually is purchased without a prior inspection. Basically, this is used to provide assurances that most mechanical systems will be in working order for the buyer's first year of ownership.
It can save the day in order to clinch a deal. It can ease buyers’ fears while also giving you some protection and peace of mind.
During negotiations, if a question concerning the remaining life of some mechanical item (such as a central air conditioner) becomes an issue, you can put the buyers at ease by suggesting the use of a home warranty.
The seller usually pays for it but it can be negotiated, including splitting the cost.
Below are some of the largest warranty providers in the US.
You can be covered too:
Simply call and advise these companies that you're selling your home. Typically they cover the buyers' first year in the home and cost from $350 to $500. Some companies will optionally provide protection to the seller before the close. These companies only cover homes in the USA:
American Home Shield 800/247-5153 Not available in Alaska
Choice Home Warranty 888/531-5403
Home Buyer Warranty 800/795-9595 Not available for homes being sold by owner.
Home Warranty of America 888/492-7359 No coverage in North Carolina
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