asp Understanding the home warranty

My Orange County New York Real Estate Homes For Sale

Orange County Search Listings Buying a Home in Orange County Selling Property in Orange County About Orange County Orange County Real Estate Services
Contact Orange County Real Estate Orange County Real Estate Home

Real Estate Articles

Orange County, NY Homes For Sale

Orange County Home

Articles Archives

How do I get started on the road to my first million?

Checking out your Check Book: When a first home purchase isn't quite within your grasp

Timing Is Everything When It Comes To Buying Homes

Adding Value Inexpensively! - Mini Blinds - a rehabber's delight!

Realtors - 5 Easy Steps for Stuffing Your Prospecting Pipeline in 14

Perfect Timing -- The Key To Real Estate Success

INTERNET SCAMS EXPOSED

Real Estate Investment Clubs: From The Developer's Perspective

Homeowners Increase the Value of Your Home

Adding Value Inexpensively! - Mini Blinds - a rehabber's delight!

To Search for Real Estate in Orange County, NY
Please click Orange County Homes

Understanding the home warranty

If you're buying or selling a home, find out exactly what a home warranty is and how it can protect you.

What is a Home Warranty?

It is a 1 year service contract that helps protect homeowners against the cost of unexpected repairs and replacements of covered major systems and appliances that break from normal usage.

What Does a Home Warranty Cover?- Water heater- Heating system/Cooling system- Plumbing system- All major appliances- Electrical systemWhat it Doesn't Cover- Roof- Doors & Walls- Items not built-inOptional Warranties- Roof- Well pumps- Swimming pools, spasA warranty normally excludes pre-existing conditions, such as items that arenot in working condition when coverage is put in

place.

Where can I get One?

Your REALTOR can provide you with the company information.

Many times a seller pays for and provides the coverage to the buyer as part of the transaction.

Ask for a "seller provided" warranty when making an offer on a house.

Many buyers purchase them for their own protection.

How Much Do They Cost?The cost for a basic one-year home warranty ranges from $325 to $425.

Optional coverage is per added item, such as pool, spa or well pump.

Each contract calls for a deductible payment or service call fee from the claimant directly to the repair contractor. This fee is usually $50 to $100.

The warranty company picks up the cost of repair above that amount.

Home warranties have proven to be

well worth the cost of coverage.

As a buyer, use it as a negotiation tool in a purchase contract.

Why a Home WarrantySellers: A Home Warranty provided by the seller will be viewed as a benefit to the buyer. Adding a home warranty to your listing adds confidence and might result in someone purchasing your home over a newer home. Many people are nervous about old appliances and fixtures. Buyers are much more comfortable with a house that includes a one year warranty. The warranty can be promoted in the advertising as a drawing feature of the home.

It protects you should something go wrong after the buyer moves in. If a covered system or appliance repair is needed, the Buyer calls the warranty company

href="http://www.articlesfactory.com"> Free Reprint Articles

, not you!This after-sale liability protection is well worth the cost of coverage.

Pay at ClosingThere is no charge to the Seller until closing. It is typically paid through escrow.

ABOUT THE AUTHOR
Cecilia Sherrard is a full time dedicated Realtor in Northeast Ohio. With years of experience and knowledge, she has maintained a multi-million dollar producer status. Visit her website at http://www.youshouldown.com you can also view her Real Estate tips at http://www.youshouldown.com/realestatetips.asp