Real Estate

Why Home Sellers and Buyers Benefit from a Home Warranty

Today, more home sellers are offering a home warranty with the sale of their home. As well, more home buyers are looking for homes for sale that offer a transferable home warranty. There are many advantages to having a home warranty which makes these protection plans such a valuable asset.

What is a Home Warranty?

A home warranty plan  is a service agreement with the homeowner that if a covered appliance or system stops working due to normal wear and tear, or age of the unit, then it will be repaired or replaced by the warranty company in accordance with the terms and conditions of the agreement.  The warranty guarantees to the policy holder that if something is covered by the home warranty plan stops working, or breaks down then it will be repaired by a qualified service technician, or replaced by the warranty company, subject to the terms and conditions of the contract.

A plan can include major appliances such as refrigerators, clothes washers and dryers, ovens, dishwashers, built-in microwaves, water heaters, and more. You can also include household systems such as the interior electrical, plumbing, water and sewer lines, central heating/cooling units, well pumps and more. Warranty plans help cover the cost of repair or replacement of household appliances and systems. Quality plans from a trusted provider are customizable and cover a wide range of appliances and systems. 

Home Warranty Advantages for Home Sellers and Buyers

For both home buyers and sellers, a home warranty plan offers budget protection and security. A home warranty can help home buyers feel secure in knowing that they will be protected in the event of a sudden breakdown of an appliance or home system that is covered under their service agreement. A home warranty can protect sellers who are selling a home with older home systems and appliances during the time period that their house is on the market. When they sell the home, the home warranty plan can be reassigned to the new homeowners. 

Home Warranty for Real Estate Agents 

Many people do not realize that during a real estate sales process, unforeseen expenses can arise at any time, when major home systems and appliances experience a mechanical failure  If you are a real estate agent, one way to protect your client’s best interest is by making sure a home warranty purchase is a part of every real estate transaction. A home warranty can help sell a property faster and for more money.  Agents can help their home buyer clients feel more confident when purchasing an older home, knowing that they can rely on a warranty to help cover unexpected repairs. 

A home warranty for real estate agents enables sellers, buyers and agents to be protected from expensive breakdowns before, during, and after the home purchase. especially during their first year of homeownership. Home warranty for real estate agents, as well as for home buyers and sellers, offer valuable protection as well as an effective home marketing resource.