IT’S ALL ABOUT A GOOD NIGHT’S SLEEP
It’s the home buyer’s worst nightmare; an after-the-sale headache for the seller; and a problem that creates an unhappy client keeping a real estate agent awake at night. What is it? Post closing plumbing catastrophes; heating and air-conditioning system failures or appliances that give up the ghost despite having passed inspection before the sale was finalized.
How can home buyers, home sellers and real estate agents protect themselves against these unexpected repairs and/or replacement expenses?
Protect Yourself and your Family with a Home Warranty.
According to the National Home Warranty Association many pre-owned homes sold today are now covered by a home warranty service contract, which protects the buyer in the event of breakdowns in the home’s mechanical systems and major built-in appliances.
Many homeowners used to consider their home equity lines as their “repair safety net”, available to pay for a major repair or replacement of heating, air-conditioning or plumbing systems. Today, the market is forcing homeowners to take another look and choose alternatives. One f the BEST PRE-PLANNING options is to always purchase a home service agreement (home warranty for resale homes) when buying or selling. A home service agreement will repair or replace covered systems and appliances for a breakdown due to normal wear and tear – the only other “thing” that does this is YOUR CASH.
With more that six out of 10 home buyers, on average, reporting the failure of two major items in the first year of ownership, more and more consumers recognize the benefits of a home warranty.
Sellers also benefit from providing a home warranty as part of the listing agreement. The NHWA states that “a home warranty enhances the perceived value of a home to potential buyers. Homes with home warranties generally sell closer to their listing price and about 60 percent faster.” Most home warranty companies offer limited coverage for the seller during the listing period for no additional cost. The listing coverage is for 6 months and then may be renewed.
What does a real estate agent gain from a home warranty? A home marketed with a home warranty provides a competitive edge particularly in a buyer’s market or a market competing against new construction; a faster sale; and most importantly, protection from the unexpected and the unwanted – an upset buyer or seller.
Disclosure: Refer to contracts for terms, conditions, limitations, costs and trade fees.
Carol Bolka
Account Executive
2-10 Home Buyers Resale Warranty
678-468-4432 (cell)
cbolka@2-10.com (e-mail)
