If you own a home and are ready to sell, if your agent is worth anything, they will talk to you about getting a home warranty, known more accurately as a service agreement contract. As a seller, a home warranty is a low-cost way for you to provide a buyer with a bit more peace of mind about your home, and also have some beneficial financial back-up should you need to submit a claim while your house is on the market.
Homebuyers often seek out a warranty, especially in the case of property features being noted as towards the end of life in their condition by an inspector. End-of-life in terms of appliances like a furnace or hot water heater doesn’t mean they are about to break down. It means that the unit is nearing the end of its peak functionality and should probably be replaced sooner rather than later. A seller may not be able to replace all of these items before selling their home, but with a home warranty, a buyer will not have to worry should the time come during the first 13 months of living in their new home; if the need arises, their home warranty is there to help.
But what exactly does a home warranty cover? As Penny puts it, a home warranty picks up where homeowners insurance leaves off. While your insurance plan is likely to cover damages caused by a leaky faucet, it won’t cover the cost of repairing the leak. A home warranty will. Penny has an excellent way to remember just what a home warranty covers; just remember the word PEACH.
A home warranty is an ideal way for a seller or buyer in the Tulsa area to hedge their bets and reduce the risk of out-of-pocket costs for repairs within a home. Find out more about home warranty options by checking out the Home Warranty of America website: www.hwahomewarranty.com For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com